A recent announcement came forward from Amgen Inc.(NASDAQ:AMGN). This announcement delineated the company’s decision to continue striving to stop the launch of Novartis’ first biosimilar drug in US market. Amgen Inc. (NASDAQ:AMGN) is considering filing an appeal against the court’s decision of rejecting Amgen Inc. (NASDAQ:AMGN)petition. This petition was filed so that Sandoz Inc., which is a division of Novartis AG (ADR) (NYSE:NVS) stops the very first biosimilar drug to be launched into US markets.

Amgen Inc. (NASDAQ:AMGN) has appealed against the court’s refusal to pass orders against the launch of Zarxio,developed by Sandoz Inc.,  which  happens to be the biosimilar version of Neupogen, Amgen Inc. (NASDAQ:AMGN)has filed an appeal both against the rejection of its petition and the court’s decision which favored Sandoz Inc.

Aude Gerspacher and Asthika Goonewardene, who have been serving as analysts at Bloomberg presented a report. This report reflected the court’s decision whereby the request of both the companies for acceleration of the case was granted. Sandoz Inc.’s response is due at 31^st of March, whilst Amgen Inc. (NASDAQ:AMGN) would be making its reply by the second of April. The court’s ensuing decision about Amgen Inc. (NASDAQ:AMGN)motion would probably come forward in early April.

This second petition filed by Amgen Inc. (NASDAQ:AMGN) against court’s decision in favor of Sandoz Inc. as well as its denial of the former company’s petition will cause a further delay in the release of biosimilar drugs in US. Even though, Zarxio has been approved by US Food and Drug Administration and the court has also given its decision in favor of it, still the launch of Zarxio will probably undergo a delay.

There are no legal restrictions or obstacles hindering this launch. However, SandozInc. has agreed to withhold this launch until the eleventh of May or until the court gives its decision in favor of Sandoz Inc., against the second petition filed by Amgen Inc.(NASDAQ:AMGN).

Following the manufacture of Zarxio, Sandoz Inc. had to face a petition filed against it by Amgen Inc. (NASDAQ:AMGN).The allegation placed by the latter company was primarily unfair competition along with patent infringement. This is because, Zarxio is a biosimilar version of Amgen Inc.’s(NASDAQ:AMGN) block buster drug Neupogen. Neupogen is basically deployed for the treatment of cancer patients, in order to cure Neutropenia. Another allegation placed by Amgen Inc.(NASDAQ:AMGN) on Sandoz Inc. was that it hasn’t complied with the disclosure regulations, as required by the Biologics Price Competition and Innovation Act (BPCIA).

Zarxio had been developed from the same active ingredient which makes up Neupogen. An application for the approval of this drug was filed with the US Food and Drug Administration in July 2014. This was the first biosimilar drug brought forward for approval. Previously FDA did not undertake the approval of such drugs because of the unavailability of an appropriate framework in order to establish the efficacy and safety of these drugs.

Patient Protection and Affordable Care Act 2010 gave authority to FDA and all such bodies to examine such imitation drugs and ultimately approve or disapprove them. Since these imitation drugs aren’t the exact copies, therefore their examinations also has to be very comprehensive.

Amgen Inc. (NASDAQ:AMGN) is a biotech company and one of the most formidable on the market currently. The past two quarters turned out very lucrative for the company and cemented its position as the top blue chip biotech company on the market. In the fourth quarter the company rose from 186 million to 1.7 billion, which is a large profit. The company pays 2.05 percent dividends per share which is huge for a biotech company. So when we were talking about obvious choices, consider Amgen Inc. (NASDAQ:AMGN) one of those.

Biogen Idec Inc. (NASDAQ:BIIB) comes on the list of blue chip biotech stocks because the analysts claim that this year will turn out to be immensely profitable for the company. Wall Street hails the company as the most trustworthy stock on the biotech market. The inventory of the company is rich because Biogen Idec Inc. (NASDAQ:BIIB) has been working on introducing various antibodies for diseases that are usually regarded as hard to treat. Biogen Idec Inc. (NASDAQ:BIIB) is a buy worthy of investors’ attention and if you are an investor, you should certainly consider Biogen Idec Inc. (NASDAQ:BIIB).

Celgene Corp. (NASDAQ:CELG) is a well known name in the biotech market. With a healthy pipeline and numerous drugs lined up for 2016, the company is expected to grow by 20 percent in two years. With an expected profit like that, it’s an attractive stock for the investors. It’s also well known for its rich alliances with other healthcare companies, making its inventory a rich tapestry of powerful and efficient drugs that are on high demand in the market.

At the conclusion of this piece we mention Gilead Sciences Inc. (NASDAQ:GILD), which is the top cap holder when it comes to profits. Gilead Sciences Inc. (NASDAQ:GILD) is the stock that has been responsible for keeping the biotech market stable. It is also responsible for keeping the whole industry alive. The stock has waned since the beginning of this year due to various reasons but Gilead Sciences Inc. (NASDAQ:GILD) is still a strong buy. Even though it isn’t that formidable as it was months ago, it certainly is the godfather of the biotech market, which single handedly revived the market and made way for other companies to follow suit. Gilead Sciences Inc. (NASDAQ:GILD) is a buy worth every investor’s attention which can’t be neglected in any case.

The bankers, more often than not, do not keep an eye on the stocks. However, the Federal Reserve recently revealed some stretches in the biotech and social media sector. Fed says that value metrics for some smaller companies have been made to seem stretched.

The news is not tremendous and earth-shaking for those people who keep up with the equity market since the social media and biotech stocks have shown pullbacks in the recent past as well; the shrinking of stocks resulted due to decreased valuation. According to Ed Yardeni, the president of Yardeni Research, a financial and investment advisory firm, the news that Fed broke to the market was not new for professionals. He further stated that it looked like as if the Feds had been following the newspapers.

However, since the word was given by Feds this time, a complete chaos took over the market and people started off selling their stocks in Wall Street.

Although the Feds mentioned stretching of “smaller” companies’ stocks, the news affected the stocks of big giants as well. Stocks of Amgen (NASDAQ:AMGN) and Facebook (NASDAQ:FB), two big companies, fell down by 2 percent. Similarly, stocks of two medium sized social media companies, Twitter (NASDAQ:TWTR) and LinkedIn (NASDAQ:LNKD) slumped by 1 percent.

Feds’ warning did not only affect the social media and biotech stocks, rather it affected the whole market: the composite of Nasdaq shed by 1 percent. It is important to note here that Nasdaq is an American Stock Exchange and its market capitalization makes this stock exchange the second largest in the world. Many biotech and social media companies are registered with Nasdaq.

Interestingly, even with falling values, the social media and biotech stocks are still expensive in the market. Stocks of Vertex Pharmaceuticals (NASDAQ:VRTX), an American company in the field of biotechnology, fell down by 2 percent following the Feds’ disclosure. However, as of Monday, the stocks have a (P/E) price to earnings ratio of 136; such a high P/E makes Vertex Pharmaceuticals (NASDAQ:VRTX) the second-most expensive company in the Nasdaq 100. Similarly, Facebook, the most popular social media company, has a price to earnings ratio of 37, which is quite high when compared to other stocks registered on the same stock exchange.

Global Equities’ Managing Director, Steve Weeple, said that biotech stocks have huge value in other areas of this industry. According to the managing director, there are some very strong companies in the biotechnology industry, like Celgene (NASDAQ:CELG), Gilead (NASDAQ:GILD) and Amgen (NASDAQ:AMGN), which deserved the analyst firm’s ratings as there exist no ‘concept stocks’ anymore.

Where the Federal Reserve, in its monetary policy report, warned about the potential stretching in the stocks of some companies, particularly the small companies in the biotech and social media arena; the central bank, on the other hand, has not commented on this news, nor is it worried about the market.