SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Oct 5, 2012) - The Biotechnology Industry has seen increased investor interest in 2012 as it continues to impress with strong gains. The iShares NASDAQ Biotechnology Index ETF (IBB) has gained over 35 percent this year, more than double the S&P 500 Index's gain of 15 percent. New legislation, increased mergers & acquisition activity as a result of major patent expirations have all been contributing factors to industry's rapid rise in 2012. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on ImmunoGen, Inc. (NASDAQ: IMGN) and Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX).
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The Biotechnology Industry Organization (BIO) has recently praised the introduction of the High Technology Small Business Research Incentives Act. The new legislation would allow investors of joint venture R&D projects to utilize the losses and tax credits.
"Through the tax code, Congress historically has provided opportunities that encourage private investment in pre-revenue, R&D-intensive companies. The early growth of the biotech industry in the 1980s was due in part to the ability of investors to support projects aimed at finding new cures and treatments through similar joint ventures. This legislation will help spur greater private investment in biotech and other R&D intensive industries," BIO's President and CEO Jim Greenwood said in a statement.
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ImmunoGen develops targeted anticancer therapeutics using the company's expertise in tumor biology, monoclonal antibodies, potent cancer-cell killing agents and engineered linkers. The company recently reported results from their Phase III trial, EMILIA. Trastuzumab emtansine reduced risk of death by 32% compared to the standard-of-care treatment arm of the trial.
Idenix Pharmaceuticals is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases. Idenix's current focus is on the treatment of patients with hepatitis C infection. The company in August received verbal notice from the FDA that a clinical hold has been placed on IDX19368.
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