Tomahawk, WI 09/08/2014 (Basicsmedia) – Biogen Idec Inc. (NASDAQ:BIIB), Celgene Corporation (NASDAQ:CELG) and Gilead Sciences, Inc. (NASDAQ:GILD) remainthe top three irresistible stock picks, on the broader biotech space according to John Schroer of Allianz Global Investors. In an interview on CNBC, Schroer reiterated that Biogen has a sustainable growth potential going forward, at the back of new products that it is set to launch in the coming months.

 Biogen Idec Inc. (NASDAQ:BIIB) has already announced that it has received approval for Elocate, a drug that is to be used for the control and prevention of bleeding episodes. The Company’s M & A Synergy portfolio continues to expand at the back of an impressive pipeline of drugs made of Avonex, Tysabri and Tecfidera.

“The first one would be Biogen Idec Inc. (NASDAQ:BIIB) leading company in the M&A space. They have some very strong earnings growth 20-25% earnings growth over the next three years and we are looking at a valuation that is just below 25 times,” said Mr. Schroer.

Despite recording a blip of 1.40% on Friday trading session, Schroer remains bullish on Gilead Sciences, Inc. (NASDAQ:GILD) especially on its long-term upside potential. Gilead sunk on Friday trading session as reports emerged there was going to be some pricing pressure on HEP C, the same news that caused biotech stocks to slump in the market earlier in the year, but later rebounded.

The introduction of new products going forward is expected to propel Gilead Sciences, Inc. (NASDAQ:GILD) stock in the market according to Mr. Schroer.

“It has been one of the best performers this month and what you see though is it is still selling at approximately 11-times earnings consensus earnings. We believe the earnings will be substantially higher based on the introduction of their new generation HEP C pill, which is coming within the next two months,” said Mr. Schroer.

Celgene Corporation (NASDAQ:CELG) makes the list of the top three irresistible stocks in the biotech space having slumped on Friday trading session, to close at a low of $93.79. Celgene Corporation (NASDAQ:CELG) commands a superior annual growth rate compared to its peers although it does not offer any dividends to its investors.

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