Major Revenue Losses From Patent Expirations Forces Big Pharma Companies to Look to the Biotech Industry for Replacements
Five Star Equities Provides Stock Research on CEL-SCI and ImmunoCellular
NEW YORK, NY -- (Marketwire) -- 01/17/13 -- 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 CEL-SCI Corp. (NYSE: CVM) and ImmunoCellular Therapeutics Ltd. (NYSE: IMUC).
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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 annual 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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CEL-SCI is dedicated to research and development directed at improving the treatment of cancer and other diseases by utilizing the immune system, the body's natural defense system. Its lead investigational therapy is Multikine, currently being studied in a pivotal global Phase III clinical trial. Multikine was recently awarded a key patent by the Japanese patent office.
ImmunoCellular Therapeutics is developing immune-based therapies for the treatment of brain and other cancers. The company recently filed an Investigational New Drug application for ICT-140, a dendritic cell vaccine targeting ovarian cancer antigens and cancer stem cells at the end of 2012.
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