The investor of today does not profit from yesterday's growth. - Warren Buffett
Amgen (AMGN) and GlaxoSmithKline (GSK) are both huge pharmaceutical companies, but as companies grow bigger, ventures for future growth can become scarce. The success of any business depends on the existing products, and the growth depends upon further developing new products. Companies in this sector are substantially exposed to the risk of new entrants product-wise. But, for smaller players, it can be hard to achieve economies of scale and price their product competitively.
This risk becomes a reality when a good product