Biotech Industry Experiencing More FDA New Drug Approvals in 2012
Five Star Equities Provides Stock Research on Amarin and InterMune
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/28/12 -- 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 Amarin Corporation plc (NASDAQ: AMRN) and InterMune, Inc. (NASDAQ: ITMN).
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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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Amarin's product development program leverages its extensive experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. Vascepa, Amarin's first FDA approved product, is a patented, ultra-pure omega-3 fatty acid product. Shares of the company surged Tuesday after Citigroup analyst Jonathan Eckard initiated coverage on the company with a "buy" rating. Eckard in a research note wrote sales of Vascepa could reach $1 billion by 2017.
InterMune is a biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and orphan fibrotic diseases. Shares of the company spiked earlier this month after reporting third quarter results that topped analyst's estimates. InterMune reported total revenue in the third quarter of 2012 of $7.5 million, compared with $0.1 million in the third quarter of 2011.
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Datum: 28.11.2012 - 13:20 Uhr
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