|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 Antares Pharma Inc. (NASDAQ: ATRS) and Celldex Therapeutics, Inc. (NASDAQ: CLDX).
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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Antares Pharma is a revenue-generating product focused specialty pharmaceutical company that has developed three proprietary platforms, two of which now include FDA approved products. The company last month reported that it has submitted a New Drug Application to the FDA for OTREXUP, a treatment for Rheumatoid Arthritis.
Celldex Therapeutics is the first antibody-based combination immunotherapy company. Celldex has a pipeline of drug candidates in development for the treatment of cancer and other difficult-to-treat diseases based on its antibody focused Precision Targeted Immunotherapy Platform.
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