NEW YORK, NY--(Marketwire - Jan 30, 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 Navidea Biopharmaceuticals Inc. (NYSE: NAVB) and Vical Inc. (NASDAQ: VICL).
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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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Navidea Biopharmaceuticals is a biopharmaceutical company focused on the development and commercialization of precision diagnostics and radiopharmaceutical agents. The company recently expanded its relationship with AstraZeneca and obtained rights to two additional β-amyloid imaging agents.
Vical is independently pioneering the development of paradigm-changing DNA vaccines and cancer immunotherapies, and is partnering with such industry leaders as Merck, sanofi-aventis, Novartis, Astellas, AnGes, Merial and the NIH. On January 2, 2013, the company's listing was transferred to the NASDAQ Global Select Market.
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