|By Marketwired .||
|January 24, 2013 08:20 AM EST||
NEW YORK, NY -- (Marketwire) -- 01/24/13 -- 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 Cytori Therapeutics Inc. (NASDAQ: CYTX) and Peregrine Pharmaceuticals (NASDAQ: PPHM).
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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Cytori is a leader in cell therapy, providing patients and physicians around the world with medical technologies that harness the potential of adult regenerative cells from adipose tissue. The Celution System family of medical devices and instruments is being sold into the European and Asian cosmetic and reconstructive surgery markets but is not yet available in the United States.
Peregrine Pharmaceuticals is pursuing multiple clinical programs in cancer with its lead product candidate bavituximab and novel brain cancer agent Cotara. Shares of the company surged earlier this month after reporting an update on an internal review of its Phase II second-line non-small cell lung cancer trial.
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