Higher Rate of FDA New Drug Approvals a Major Factor in Biotech Industry's Success in 2012
Five Star Equities Provides Stock Research on Achillion Pharmaceuticals and Sequenom
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/13/12 -- 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 Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) and Sequenom, Inc. (NASDAQ: SQNM).
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"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.
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Achillion is an innovative pharmaceutical company dedicated to bringing important new treatments to patients with infectious disease. Achillion's proven discovery and development teams have advanced multiple product candidates with novel mechanisms of action. Shares of the company fell nearly 12 percent Monday. Analysts at Piper Jaffray had restated its "overweight" rating on the company in a research report.
Sequenom develops innovative technology, products and diagnostic tests that target and serve discovery and clinical research, and molecular diagnostics markets. Shares of the company surged nearly 20 percent last Friday after reporting demand for their maternal Down syndrome test is expected to exceed their previous guidance.
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Datum: 13.11.2012 - 07:20 Uhr
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