Biotech Industry Skyrockets in 2012 as FDA New Drug Approval Rate Increases
22 Novembro 2012 - 11:20AM
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 Complete
Genomics, Inc. (NASDAQ: GNOM) and Exelixis, Inc. (NASDAQ: EXEL).
Access to the full company reports can be found at:
www.FiveStarEquities.com/GNOM www.FiveStarEquities.com/EXEL
"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
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Complete Genomics provides the most accurate whole human genomes
available today. The ease of use and power of Complete's advanced
informatics and analysis systems provide genomic information needed
to better understand the prevention, diagnosis, and treatment of
diseases. Illumina has recently stated it had its bid to acquire
the company rejected by Complete Genomics.
Exelixis, Inc. is a biotechnology company committed to
developing small molecule therapies for the treatment of cancer.
Exelixis is focusing its proprietary resources and development
efforts exclusively on cabozantinib, its most advanced product
candidate. The decision date for Cabozantinib's New Drug
Application, which was submitted through the FDA's Fast Track
designation, is November 29, 2012.
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