Q: Which biotechs look good now?
A: I think on a long-term basis both Amgen (AMGN ) and Genentech (DNA ) can be included in a portfolio, despite the fact that the valuations are relatively high. Johnson & Johnson (JNJ ) continues to impress me as a company transitioning to higher market products, not just in biotech but also in devices. Clearly, the scientific component of their product portfolio is getting stronger. It won't surprise me if the stock hits a new high today.