NEW YORK, NY -- (Marketwire) -- 09/28/12 -- 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 the industry's rapid rise in 2012. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) and Dendreon Corporation (NASDAQ: DNDN).
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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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Savient Pharmaceuticals is a specialty biopharmaceutical company focused on developing and commercializing KRYSTEXXA (pegloticase) for the treatment of chronic gout in adult patients refractory to conventional therapy. John P. Hamill was recently named Senior Vice President & Chief Financial Officer of Savient Pharmaceuticals. Shares of the company have nearly doubled in the last month.
Dendreon is a biotechnology company whose mission is to target cancer and transform lives through the discovery, development, commercialization and manufacturing of novel therapeutics. Dendreon's first product, PROVENGE, was approved by the U.S. Food and Drug Administration (FDA) in April 2010.
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