Given that Amgen's market cap ballooned by $3.3 billion (15 percent) to $25.7 billion on Christmas week following a favorable arbitration panel ruling on its novel erythropoiesis stimulating protein, one wonders what upside might be in wait for Transkaryotic Therapies (TKTX) if it wins its own EPO battle with AMGN.

The arbitration panel said that AMGN's