Biotech and pharma as a whole haven't exactly performed the best during the past three months. This is exactly why it is a good time to look as some of these names. Johnson and Johnson (JNJ) has traded down 6.7% YTD. You can look at the fundamentals here and they are solid. What happens with a company like Johnson is they get out of favor for awhile. It is a opportunity for someone looking long-term to get in at a decent price. They operate in three sections. 1)Drugs, 2)Medical Devices, 3)Consumer Products. I feel this diversity is great in terms of long-term stability.
Amgen (AMGN) looks good as a trade and an investment. Their growth rate and margins are beating everyone else in the industry. They are consistently known for having a great pipeline of new drugs and management runs it well. I think their growth has slowed, which has been the reason for the drop, but things still look good for this company.
From a technical standpoint, both are trading well below their 200 moving average. Amgen looks good at 60. I'd look to start building a position in Johnson at 61, and buy additional shares on any dips.