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How Innovative Have Drugmakers Really Been?
Podcast: June 24, 2013
There are some indications that the biopharmaceutical industry has increased its output of innovative products because of the recent uptick in new drug approvals. Bernard Munos, founder of the InnoThink Center for Research in Biomedical Innovation, took a closer look at the drugs that have come to market over the last 12 years to determine how innovative the industry has really been. We spoke to Munos about his recent study in Nature’s Clinical Pharmacology & Therapeutics, what the numbers tells us about innovation in drug development, and whether the industry is addressing the issues that have undermined its ability to innovate in the past. Read More Here
By The Numbers
|
Biggest movers for the week ending June 21, 2013
|
| TICKER |
COMPANY |
CLOSING PRICE 6/14/2013 |
CLOSING PRICE 6/21/2013
|
PRICE CHANGE |
PERCENT CHANGE |
|
| ADVANCERS |
| CYTK |
Cytokinetics |
1.41 |
2.16 |
0.75 |
53.2% |
| GEVO |
Gevo |
1.68 |
2.22 |
0.54 |
32.1% |
| NasdaqCM:STML |
Stemline Therapeutics |
20.09 |
25.84 |
5.75 |
28.6% |
| IMMU |
Immunomedics |
4.09 |
5.01 |
0.92 |
22.5% |
| ICPT |
Intercept Pharmaceuticals |
32.51 |
39.05 |
6.54 |
20.1% |
| DECLINERS |
| SNGX |
Soligenix |
1.59 |
1.00 |
-0.59 |
-37.1% |
| IDIX |
Idenix Pharmaceuticals |
5.18 |
3.56 |
-1.63 |
-31.4% |
| VNDA |
Vanda Pharmaceuticals |
11.55 |
8.27 |
-3.28 |
-28.4% |
| FOLD |
Amicus Therapeutics |
3.19 |
2.33 |
-0.86 |
-27.0% |
| PXSL.Y |
Pharmaxis |
2.59 |
2.00 |
-0.59 |
-22.8% |
| Includes life sciences stocks with closing price of $1 or more on June 14, 2013, |
Cytokinetics benefits from continued good news.
Markets around the world did poorly this week. In the U.S., stocks declined after the Federal Reserve’s policymaking committee said Wednesday that the economic outlook has brightened and the job market has shown improvement in recent months, further strengthening concerns that the Fed will reduce its monthly purchases of treasuries and mortgage-backed securities. Internationally, China’s low manufacturing numbers and export orders were a concern, indicating economic weakness. For the week, the Dow Jones Industrial Average fell 1.8 percent, the S&P 500 closed 2.1 percent, and the Nasdaq Composite 1.9 percent.
Cytokinetics stock was up 53.2 percent after announcing it will join the Russell Global Index when Russell reconstitutes its comprehensive set of U.S. and global equity indexes on June 28. The company this week also announced that results from a mid-stage clinical trial to evaluate safety, tolerability, and efficacy of their lead compound in patients with left ventricular systolic dysfunction who are hospitalized with acute heart failure have been accepted for presentation during a late breaking trials session at the upcoming European Society of Cardiology meeting. Bluebird Bio, which began trading on June 19 at $17 per share, closed the week at $25.25 per share, a 50 percent increase. Because our list is based on gains from the previous week’s close, it is not include in this week’s table
Soligenix declined 37 percent after announcing a public offering of 6.6 million shares of common stock at a price per share of $1.05 and 5-year warrants to purchase up to 5.0 million shares for a total of $7.0 million. The company plans to use the net proceeds from the offering to further develop its product candidates and for general working capital purposes. Lead candidates include an oral medication for pediatric Crohn's disease, currently in an early-stage trial, and an immune system regulator for the treatment of oral mucositis, scheduled for a mid-stage trial in late 2013.
Bluebird Bio Soars in Market Debut
Gene therapy biotech upsizes IPO and prices above target range.
Bluebird bio soared 58 percent in its first day of trading after completing an upsized IPO priced above its target range. It was the first biotech company to price above its range in 2013 as investor enthusiasm grows for life sciences offerings. Read More Here
| BURRILL INDICES |
12/31/2012 |
6/14/2013 |
6/21/2013 |
Week Change |
Year Change |
| Burrill Select |
589.98 |
792.39 |
750.45 |
-5.3% |
27.2% |
| Burrill Large Cap |
736.90 |
944.16 |
896.16 |
-5.1% |
21.6% |
| Burrill Mid-Cap |
309.52 |
395.51 |
372.41 |
-5.8% |
20.3% |
| Burrill Small Cap |
105.48 |
132.66 |
121.69 |
-8.3% |
15.4% |
| Burrill Diagnostics |
191.32 |
211.40 |
203.49 |
-3.7% |
6.4% |
| Burrill Personalized Medicine |
119.22 |
145.63 |
141.89 |
-2.6% |
19.0% |
| Burrill Biogreentech |
162.27 |
177.13 |
172.70 |
-2.5% |
6.4% |
| NASDAQ |
3019.51 |
3423.56 |
3357.25 |
-1.9% |
11.2% |
| DJIA |
13104.14 |
15070.18 |
14799.4 |
-1.8% |
12.9% |
| S&P 500 |
1426.19 |
1626.73 |
1592.43 |
-2.1% |
11.7% |
| Amex Biotech |
1547.03 |
1906.68 |
1862.72 |
-2.3% |
20.4% |
| Amex Pharmaceutical |
369.57 |
429.074 |
413.5 |
-3.6% |
11.9% |
SCOTUS Rules Pay-For-Delay Settlements Can Violate Antitrust Laws
Orders lower court to allow FTC to proceed with case.
The U.S. Supreme Court ruled that pay-for-delay settlements between branded and generic drugmakers can violate antitrust laws and ordered a lower court to allow a Federal Trade Commission suit seeking to challenge one such agreement to be heard. Read More Here
J&J Bets up to $1 Billion in Aragon Buy
Prostate cancer therapy sold while breast cancer therapy is spun into new company.
Johnson & Johnson will pay up to $1 billion to buy Aragon Pharmaceuticals, a four-year-old California company with a mid-stage prostate cancer therapy. Read More Here
NIH Expands Repurposing Efforts with New Grants
Institute awards $12.7 million total to nine academic groups.
The National Institutes of Health is awarding $12.7 million to nine academic research teams exploring new applications for experimental compounds that have cleared human safety testing but were later shelved by Big Pharma. Read More Here
NGM Partners with MedImmune
Companies will work together to discover new treatments for diabetes and obesity.
NGM Biopharmaceuticals and MedImmune, AstraZeneca’s biologics unit, have partnered to discover, develop and commercialize novel therapeutics from NGM’s enteroendocrine cell program to treat type 2 diabetes and obesity. Read More Here
Improper Use of Drugs Wastes More than $200 Billion a Year
Avoidable cost enough to insure 24 Million people.
An estimated $213 billion in 2012 healthcare spending in the United States was wasted on improper and unnecessary use of medicines— equivalent to 8 percent of the nation’s total healthcare spending in 2012—a new report finds. Read More Here
Elan Shareholders Vote to Nix Royalty Pharma Takeover
Share buyback plan approved, but $1 billion Theravance royalty stream buy rejected.
Elan shareholders approved a share buyback plan and rejected three other proposals during a special general meeting held June 17. Their vote effectively ended Royalty Pharma’s latest takeover bid, an offer to purchase the company for $13 per American Depository Receipt plus $2.50 per ADR in contingent value rights, valuing Elan at about $8 billion. Read More Here
Illumina Ordered to Pay $115 Million Plus Interest For Patent Infringement
The weekly round-up of failed trials, missed targets, and other business mishaps.
A U.S. district court ordered Illumina to pay $115 million to Syntrix Biosystems for patent infringement related to its BeadChip products and breakthrough synthetic matrix and array technology invented by Syntrix founder and president, John Zebala. Read More Here
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