NEW YORK, NY -- (Marketwire) -- 01/29/13 -- 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 AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) and Repros Therapeutics Inc. (NASDAQ: RPRX).
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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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AVEO Oncology is dedicated to discovering, developing and commercializing targeted therapies to impact the lives of patients living with cancer. They have built a robust pipeline of anti-cancer therapeutics through the use of our proprietary Human Response Platform. The company has submitted a New Drug Application (NDA) that is currently under review by the FDA seeking approval for tivozanib in patients with advanced renal cell carcinoma.
Repros Therapeutics focuses on the development of small molecule drugs for major unmet medical needs that treat male and female reproductive disorders. The company's primary product candidate is Androxal, a treatment for males with low testosterone levels. Repros recently reported that enrollment for the one year DEXA study has been completed three months ahead of scheduled, and should ensure a NDA submission for Androxal by mid-2014.
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