Biotech Industry Skyrockets in 2012 as FDA New Drug Approval Rate Increases
30 November 2012 - 12:20AM
Marketwired
The Biotech Industry has skyrocketed in 2012 as an increase in the
number of new drug approvals has boosted investor optimism within
the industry. The iShares Nasdaq Biotechnology Index Fund (IBB) and
the SPDR S&P Biotech ETF (XBI) have both gained over 25 percent
year-to-date. Five Star Equities examines the outlook for companies
in the Biotech Industry and provides equity research on Idenix
Pharmaceuticals, Inc. (NASDAQ: IDIX) and Vermillion, Inc. (NASDAQ:
VRML).
Access to the full company reports can be found at:
www.FiveStarEquities.com/IDIX
www.FiveStarEquities.com/VRML
"In 2011, the U.S. FDA approved 30 new drugs, compared to 21 in
2010," S&P Capital IQ wrote in a note. "Through September 2012,
the year-to-date total was 22. We see an improving trend for FDA
first cycle review approvals and a rise in the rate of new drug
approvals for rare diseases, which we think is helping to boost
investor sentiment for the agency, after years of criticism
stemming from inconsistency in making and communicating its
decisions."
Another key factor in the Biotech Industry's success has been
the "patent cliff" major pharmaceuticals have faced in 2012. Major
drug manufacturers have looked to biotech companies to help offset
major revenue losses from expiring patents as it is less time
consuming than developing new drugs through R&D.
Five Star Equities releases regular market updates on the
Biotech Industry so investors can stay ahead of the crowd and make
the best investment decisions to maximize their returns. Take a few
minutes to register with us free at www.FiveStarEquities.com and
get exclusive access to our numerous stock reports and industry
newsletters.
Idenix Pharmaceuticals is a biopharmaceutical company engaged in
the discovery and development of drugs for the treatment of human
viral diseases. Idenix's current focus is on the treatment of
patients with chronic hepatitis C infection. Analysts at Deutsche
Bank have recently initiated coverage on the company with a "buy"
rating and a $7 price target.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, vascular medicine and women's
health. Shares of the company spiked after reporting positive
results from a clinical study of their ovarian cancer test OVA1.
"The publication of the OVA500 study advances our strategic plan to
increase physician adoption and payer coverage, leading to
incorporation of OVA1 into the standard of care for ovarian
cancer," said Bruce A. Huebner, Vermillion's interim CEO.
Five Star Equities provides Market Research focused on equities
that offer growth opportunities, value, and strong potential
return. We strive to provide the most up-to-date market activities.
We constantly create research reports and newsletters for our
members. Five Star Equities has not been compensated by any of the
above-mentioned companies. We act as an independent research portal
and are aware that all investment entails inherent risks. Please
view the full disclaimer at:
www.FiveStarEquities.com/disclaimer
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contact: Five Star Equities Email Contact
(MM) (NASDAQ:IDIX)
Historical Stock Chart
From Jun 2024 to Jul 2024
(MM) (NASDAQ:IDIX)
Historical Stock Chart
From Jul 2023 to Jul 2024