SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Feb 8, 2013) - 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 OXiGENE, Inc. (NASDAQ: OXGN) and SIGA Technologies, Inc. (NASDAQ: SIGA).
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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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OXiGENE is a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer. The Company's major focus is developing vascular disrupting agents that selectively disrupt abnormal blood vessels associated with solid tumor progression. OXiGENE shares surged after reporting a combination of ZYBRESTAT and Avastin have continued to be well tolerated in a second interim and final toxicity analysis of a Phase 2 ovarian cancer trial.
SIGA Technologies specializes in the development and commercialization of pharmaceutical solutions for some of the most lethal disease-causing pathogens in the world -- smallpox, Ebola, dengue, Lassa fever and other dangerous viruses. The company has announced that their smallpox antiviral will now be branded as Arestvyr (previously ST-246) for all purposes.
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