SOURCE: The Bedford Report

The Bedford Report

August 09, 2011 08:16 ET

Big Pharma Boosts Dependence on Dendreon and Zalicus

The Bedford Report Provides Equity Research on Dendreon & Zalicus

NEW YORK, NY--(Marketwire - Aug 9, 2011) - Shares throughout the biotechnology sector have been exceptionally volatile of late as developments regarding government approvals, litigation, and discoveries continue elicit large movements in stock prices. The Bedford Report examines the outlook for companies in the biotechnology industry and provides investment research on Dendreon Corporation (NASDAQ: DNDN) and Zalicus, Inc. (NASDAQ: ZLCS). Access to the full company reports can be found at:

The importance of maintaining a steady pipeline of drugs to market is having varied effects on the biotechnology industry. Analysis by the professional services firm BDO argues that larger Pharmaceutical firms are increasing reliance on biotech companies to fill its pipeline, which has been a net positive for small biotech companies.

According to Thomson Reuters, on average biotech companies in the NASDAQ Biotechnology Index (NBI) spent $54 million on R&D in 2010, reflecting a 7 percent decline from 2009.

The Bedford Report releases market research on the Biotechnology Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Shocking second quarter results from Dendreon Corporation last week caused the NYSE-Arca Biotechnology Index, an index of biotechnology and pharmaceutical stocks listed on the NASDAQ, to fall more than 6 percent last week. Last week Dendreon announced that sales of Provenge, its $93,000 prostate cancer treatment, won't meet forecasts despite expanded manufacturing capacity and recent favorable reimbursement decisions. Dendreon said only about 25 percent of potential Provenge prescribers were aware of a June 30 decision by Medicare to cover the drug's cost of $93,000 for a course of three infusions.

Shares of Zalicus, a biopharmaceutical company that discovers and develops novel treatments for patients suffering from pain and immuno-inflammatory diseases, also slid sharply last week. Zalicus said net loss was $11.3 million, or $0.11 per share for the quarter ended June 30, 2011, compared to a net loss of $8.6 million, or $0.10 per share, in the quarter ended June 30, 2010.

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