Biotech Stocks on the Upswing as FDA Relationships Improve
December 07 2010 - 8:46AM
Marketwired
Biotech companies haven't been impervious to the economic downturn
but they have endured better than most. This is partly due to the
fact that demand for pharmaceuticals remains fairly constant even
during recession. At the moment there is plenty of optimism
regarding the Biotech Industry as firmer pricing and new products
have improved sales and earnings trends this year. While healthcare
reform is likely to shake up this industry, gestures of goodwill
from the Obama administration have curtailed some concern. The
Bedford Report examines the outlook for companies in the
Biotechnology Industry and provides research reports on Cell
Therapeutics, Inc. (NASDAQ: CTIC) and Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS). Access to the full company reports can be found at:
www.bedfordreport.com/2010-12-CTIC
www.bedfordreport.com/2010-12-SNSS
Recently the Obama administration pressed congress to revamp a
research and development tax credit by increasing it by about 20
percent and making it permanent. The Pharmaceutical Research and
Manufacturers of America, PhRMA, as well as the Advanced Medical
Technology Association expressed support for the tax credit.
The Bedford Report releases regular market updates on the
Biotechnology Industry so investors can stay ahead of the crowd and
make the best investment decisions to maximize their returns. Take
a few minutes to register with us for free at www.bedfordreport.com
and get exclusive access to our numerous analyst reports and
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A recent survey from PricewaterhouseCoopers found that life
sciences firms believe that industry-FDA relationships have
improved since Obama took office. In fact, 80% of those surveyed
said in the last two years the FDA has provided better guidance
about its expectations.
In recent FDA-Biotech news, Cell Therapeutics announced this
month that it has filed an appeal of the FDA's decision regarding
the company's "pixantrone" drug for non-Hodgkin's lymphoma. Back in
April the FDA recommended that cell Therapeutics conduct another
trial of pixantrone "to demonstrate the safety and effectiveness of
its product."
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