In the following video, Fool contributor Maxx Chatsko explains whether he thinks Gilead Sciences (NASDAQ: GILD ) or Amgen (NASDAQ: AMGN ) is the better buy. Both companies are trading at nearly identical market caps and have risen dramatically since the beginning of 2012 in anticipation of new blockbuster products. Both have robust pipelines stuffed full of potential at all levels of development. This is going to be a tough decision. If these companies are on your watchlist or if you're simply looking to add to a position, then you may want to use the current market volatility to your advantage.
While you can certainly make huge gains in biotech and pharmaceuticals, the best investing approach is to choose great companies and stick with them for the long term. The Motley Fool's free report "3 Stocks That Will Help You Retire Rich" names stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.