Celgene (Jobs), Genentech, Inc. (Jobs), Gilead Sciences, Inc. (Jobs): Is Biotech Weakness Creating A Buying Opportunity?

Brett Scott submits: The weakness in the large-cap biotechs is back, but why? With the exception of Amgen (AMGN), the financials and growth from these companies continue to amaze. Genentech (DNA) has grown sales and earnings at a clip above 35% for the last three years; Gilead (GILD) and Celgene (CELG) have both grown greater than 60% per year over the past five years. These growths should continue in 2007, but after that, growths for Genentech and Gilead could slip below 20%. Should this cause investors to panic? Is this reasoning for the weakness?