FDA on Pace to Approve More New Drugs in 2012 Than the 30 Approved in 2011
Five Star Equities Provides Stock Research on Astex Pharmaceuticals and Amicus Therapeutics
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/23/12 -- 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 Astex Pharmaceuticals, Inc. (NASDAQ: ASTX) and Amicus Therapeutics, Inc. (NASDAQ: FOLD).
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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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Astex Pharmaceuticals is dedicated to the discovery and development of novel small molecule therapeutics with a focus on oncology. The Company developed DACOGEN for Injection and receives significant royalties on global sales. In October 2012, the Company earned $5 million upon first commercial sale of Dacogen in the EU.
Amicus Therapeutics is a biopharmaceutical company at the forefront of developing therapies for rare diseases. The Company is developing orally-administered, small molecule drugs called pharmacological chaperones, a novel, first-in-class approach to treating a broad range of human genetic diseases. For the third quarter of 2012 the company reported total revenue of $5.8 million.
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Datum: 23.11.2012 - 13:20 Uhr
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