Savient Pharmaceuticals and PDL BioPharma Rise on Strong Earnings
The Paragon Report Provides Stock Research on Savient Pharmaceuticals and PDL BioPharma
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 08/10/12 -- The Biotechnology Industry has been soaring in 2012 as companies -- both large and small -- have shown impressive growth. The SPDR S&P Biotech ETF (XBI) and the First Trust NYSE Arca Biotech Index ETF (FBT) are up roughly 30 percent for the year, outperforming the broader market by a wide margin. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) and PDL BioPharma Inc. (NASDAQ: PDLI).
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Despite having to negotiate a more challenging regulation process biotech companies have continued to show investors strong gains in 2012. The FDA Amendments Act of 2007 forced regulators to increase standards for approvals of new drugs, introducing mandatory risk evaluation and mitigation strategies. According to a Pharmaceuticals & Biotechnology report from IMAP, several pharmaceutical firms have altered their drug portfolios from primary care driven blockbusters towards specialties such as oncology, immunology and inflammation, where the medical need is "so high that prices are more easily accepted by the regulators."
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Savient Pharmaceuticals is a specialty biopharmaceutical company focused on developing and commercializing KRYSTEXXA (pegloticase) for the treatment of chronic gout in adult patients refractory to conventional therapy. Shares of company soared over 24 percent Wednesday after the company reported their second quarter loss decreased when compared with the year ago quarter.
PDL pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. Net income for the second quarter of 2012 was $73.5 million, or $0.52 per diluted share, as compared with net income of $70.0 million, or $0.38 per diluted share, in the same quarter of 2011.
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Datum: 10.08.2012 - 06:20 Uhr
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