SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Nov 20, 2012) - The Biotech Industry has skyrocketed in 2012 as an increase in the number of new drug approvals has boosted investor optimism within the industry. The iShares Nasdaq Biotechnology Index Fund (IBB) and the SPDR S&P Biotech ETF (XBI) have both gained over 25 percent year-to-date. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on AEterna Zentaris Inc. (NASDAQ: AEZS) and Keryx Biopharmaceuticals (NASDAQ: KERX).
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"In 2011, the U.S. FDA approved 30 new drugs, compared to 21 in 2010," S&P Capital IQ wrote in a note. "Through September 2012, the year-to-date total was 22. We see an improving trend for FDA first cycle review approvals and a rise in the rate of new drug approvals for rare diseases, which we think is helping to boost investor sentiment for the agency, after years of criticism stemming from inconsistency in making and communicating its decisions."
Another key factor in the Biotech Industry's success has been the "patent cliff" major pharmaceuticals have faced in 2012. Major drug manufacturers have looked to biotech companies to help offset major revenue losses from expiring patents as it is less time consuming than developing new drugs through R&D.
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Aeterna Zentaris is an oncology and endocrinology drug development company currently investigating treatments for various unmet medical needs. The company has recently announced the initiation of the Phase 2 portion of its ongoing Phase 1/2 study in castration- and taxane-resistant prostate cancer (CRPC) with AEZS-108.
Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of renal disease. The company has recently announced the initiation of a Phase 2 study of Zerenex for the treatment of patients with non-dialysis dependent chronic kidney disease.
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