Record Levels of Available Cash and Moderate R&D Development Will See Big Pharma M&A Activity Increase in 2013
Five Star Equities Provides Stock Research on Astex Pharmaceuticals and BioTime
NEW YORK, NY -- (Marketwire) -- 01/28/13 -- 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 Astex Pharmaceuticals, Inc. (NASDAQ: ASTX) and BioTime, Inc. (NYSE: BTX).
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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 annuals 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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Astex Pharmaceuticals is dedicated to the discovery and development of novel small molecule therapeutics with a focus on oncology. The Company is developing a proprietary pipeline of novel therapies and is creating de-risked products for partnership with leading pharmaceutical companies.
BioTime is a biotechnology company focused on regenerative medicine and blood plasma volume expanders. The company earlier this month reported it has submitted a Clinical Investigation Protocol to European regulatory authorities for approval to initiate studies for its Renevia stem cell delivery platform.
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