Sharp Increase in FDA Drug Approvals a Major Factor in Biotech Industry's Success
February 12 2013 - 7:20AM
Marketwired
A sharp increase in drug approvals and mergers and acquisitions
combined to create a bull market for the Biotechnology Industry in
2012. The iShares NASDAQ Biotechnology Index (IBB), the SPDR
S&P Biotech ETF (XBI) and the First Trust Amex Biotechnology
Index ETF (FBT) have all gained over 20 percent in the past year,
outperforming the broader markets by a good margin. Research Driven
Investing examines investing opportunities in the Biotech Industry
and provides equity research on ImmunoGen, Inc. (NASDAQ: IMGN) and
Omeros Corporation (NASDAQ: OMER).
Access to the full company reports can be found at:
www.RDInvesting.com/IMGN
www.RDInvesting.com/OMER
Bloomberg recently reported drug approvals by the U.S. Food and
Drug Administration reached a 15 year high in 2012. The FDA
approved a total of 39 novel medicines last year, an increase of 30
percent when compared to a year ago. Oncology drugs lead the way
with 11 new drugs approved last year. Over the last ten years the
number of FDA approvals had averaged roughly 23 a year. The passage
of the Prescription Drug User Fee Act (PDUFA) played a major role
in the sharp increase in approvals.
The PDUFA "has provided critical resources for improving the
quality and timeliness of premarket review of drugs," said FDA
spokeswoman, Sandy Walsh. "These accomplishments could not have
been achieved without the innovations of the biopharmaceutical
industry and the dedication and skill of FDA's drug review
staff."
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ImmunoGen develops targeted anticancer therapeutics using our
expertise in cancer biology, engineered antibodies and highly
potent cancer-cell killing agents. Ten TAP compounds are now in
clinical testing, of which three are wholly owned by the company.
Marketing applications for T-DM1, the most advanced compound using
ImmunoGen's TAP technology, are under review in the US and
Europe.
Omeros is committed to discovering, developing and
commercializing products targeting inflammation, coagulopathies and
disorders of the central nervous system. The company's most
clinically advanced product candidates, OMS302 for lens replacement
surgery and OMS103HP for arthroscopy, are derived from its
proprietary PharmacoSurgery platform designed to improve clinical
outcomes of patients undergoing a wide range of surgical and
medical procedures.
Research Driven Investing has not been compensated by any of the
above-mentioned publicly traded companies. Paragon Report is
compensated by other third party organizations for advertising
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