NEW YORK, NY--(Marketwire -12/05/11)- Despite a volatile market, the biotechnology industry has performed admirably in recent months. In November the sector was supported by victories with encouraging clinical developments, three drug approvals, Gilead's $11 billion acquisition of Pharmasset and two IPOs. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on Elite Pharmaceuticals, Inc. (OTC.BB: ELTP.OB - News) and Dendreon Corporation (NASDAQ: DNDN - News). Access to the full company reports can be found at:
In the third quarter The Biotechnology Industry Organization spent almost $2 million lobbying Congress, the White House, and more than a dozen federal agencies on topics including funding and patent laws. According to the Associated Press, the industry's interests included funding for biofuels projects, funding for the Food and Drug Administration, National Institutes of Health, the Centers for Disease Control and Prevention, emergency preparedness programs, defense from bioterror attacks, patent regulations, renewable fuels, Medicaid rates, investment rules, and tax credits.
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Elite Pharmaceuticals, Inc. (Elite) is a specialty pharmaceutical company principally engaged in the development and manufacture of oral, controlled-release products, using technology. The Company has two products: Lodrane 24 and Lodrane 24D, being sold commercially. It also has an approved generic methadone product developed with its partner. For the company's fiscal second quarter, consolidated revenues were $274,132, a decrease of 72% compared with last year's second quarter, with revenues being earned from revenue streams that included the manufacturing and sale of the Phentermine and Lodrane D® products both launched this fiscal year.
Dendreon Corporation, a biotechnology company, engages in the discovery, development, and commercialization of therapeutics to enhance cancer treatment options for patients. Dendreon reported a third quarter 2011 loss of 67 cents per share on revenues of $64.3 million.
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