NEW YORK, NY -- (Marketwire) -- 11/12/12 -- 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 ISIS Pharmaceuticals, Inc. (NASDAQ: ISIS) and Savient Pharmaceuticals, Inc. (NASDAQ: SVNT).
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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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Isis' broad pipeline consists of 25 drugs to treat a wide variety of diseases with an emphasis on cardiovascular, metabolic, severe and rare diseases, and cancer. Isis' partner, Genzyme, plans to commercialize Isis' lead product, KYNAMRO, in the United States and Europe following regulatory approval. Shares of the company rose the most in nearly 5 years after Cowen & Co. analyst Eric Schmidt raised its rating to "outperform."
Savient Pharmaceuticals is a specialty biopharmaceutical company focused on developing and commercializing KRYSTEXXA for the treatment of chronic gout in adult patients refractory to conventional therapy. Shares of the company fell nearly 20 percent last Thursday after reporting a larger third quarter loss than analysts' had expected.
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