SOURCE: Paragon Financial Limited

Paragon Financial Limited

July 30, 2012 08:20 ET

Amgen and Idenix Pharmaceuticals Showing Strong Growth -- Biotech Industry Booming in 2012

The Paragon Report Provides Stock Research on Amgen and Idenix Pharmaceuticals

NEW YORK, NY--(Marketwire - Jul 30, 2012) - The Biotechnology Industry has been soaring in 2012 as companies -- both large and small -- have shown impressive growth. The SPDR S&P Biotech ETF (XBI) and the First Trust NYSE Arca Biotech Index ETF (FBT) year-to-date are up 35 percent and 33 percent, respectively, outperforming the broader market by a wide margin. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on Amgen, Inc. (NASDAQ: AMGN) and Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX).

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Despite having to negotiate a more challenging regulation process, biotech companies have continued to show investors strong gains in 2012. The FDA Amendments Act of 2007 forced regulators to increase standards for approvals of new drugs, introducing mandatory risk evaluation and mitigation strategies. According to a Pharmaceuticals & Biotechnology report from IMAP, several pharmaceutical firms have altered their drug portfolios from primary care driven blockbusters towards specialties such as oncology, immunology and inflammation, where the medical need is "so high that prices are more easily accepted by the regulators."

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A leader in biotechnology since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe, effective medicines from lab, to manufacturing plant, to patient. The company recently reported that total revenues for the second quarter increased 13 percent to $4,477 million. Shares of the company are up over 20 percent year-to-date.

Idenix Pharmaceuticals is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases. Idenix's current focus is on the treatment of patients with HCV. The company recently reported that the FDA has granted Fast Track designation for IDX719 for the treatment of chronic hepatitis C infection (HCV).

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: