Merger and Acquisition Activity Expected to Rise in 2013 as Big Pharma Companies Flush With Cash
Five Star Equities Provides Stock Research on Geron and Pain Therapeutics
NEW YORK, NY -- (Marketwire) -- 01/11/13 -- Lost revenues from expiring patents has played a major part in the Biotech Industry's success in recent years. A total of 676 takeovers of biotechnology and pharmaceutical companies have occurred in the past three years, with an average premium of 38 percent, according to data collected by Bloomberg. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Geron Corporation (NASDAQ: GERN) and Pain Therapeutics, Inc. (NASDAQ: PTIE).
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At the end of the third quarter five of the biggest drug makers in the U.S. held over $70 billion in cash, near cash and short-term investments. Major revenue losses from patent expirations have forced big pharmaceutical companies to look to biotech companies to help fill the void. Pfizer's Lipitor and Bristol-Myers' Plavix, which lost exclusivity in late 2011, had combined annuals revenues of $17 billion at their peaks.
"We're through many cost-cutting programs, restructurings and portfolio arrangements," said Henry Gosebruch, Managing Director, Mergers & Acquisitions J.P. Morgan. "When you put that together with record levels of cash available and improving, but still moderate R&D productivity, we think there will be more big pharma M&A activity in 2013."
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Geron is a biopharmaceutical company developing first-in-class therapies for cancer, including its telomerase inhibitor, imetelstat. The company has recently decided to divest their stem cell assets to BioTime's recently formed subsidiary, BioTime Acquisition Corporation.
Pain Therapeutics is a biopharmaceutical company that develops novel drugs. The company's lead drug candidate is called REMOXY. REMOXY is a strong painkiller with a unique formulation designed to reduce potential risks of unintended use. The company has entered into a $400M strategic alliance with Pfizer, Inc. to develop and commercialize Remoxy and three other abuse-deterrent opioid painkillers.
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