NEW YORK, NY--(Marketwire -07/17/12)- The Biotechnology Industry has been soaring in 2012 as companies -- both large and small -- have shown impressive growth. The SPDR S&P Biotech ETF (XBI) and the First Trust NYSE Arca Biotech Index ETF (FBT) year-to-date are up 37 percent and 35 percent, respectively, outperforming the broader market by a wide margin. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on Avanir Pharmaceuticals, Inc. (AVNR) and CytRx Corporation (CYTR).
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Despite having to negotiate a more challenging regulation process biotech companies have continued to show investors strong gains in 2012. The FDA Amendments Act of 2007 forced regulators to increase standards for approvals of new drugs, introducing mandatory risk evaluation and mitigation strategies. According to a Pharmaceuticals & Biotechnology report from IMAP, several pharmaceutical firms have altered their drug portfolios from primary care driven blockbusters towards specialties such as oncology, immunology and inflammation, where the medical need is "so high that prices are more easily accepted by the regulators."
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Avanir Pharmaceuticals is a biopharmaceutical company focused on bringing innovative medicines to patients with central nervous system disorders of high unmet medical need. Avanir's NUEDEXTA is the first and only FDA-approved treatments for Pseudobulbar affect (PBA). PBA is characterized by involuntary, sudden, and frequent episodes of laughing and/or crying. Shares of the company have surged over 60 percent this year.
CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The CytRx oncology pipeline includes three programs in clinical development for cancer indications: INNO-206, tamibarotene and bafetinib. The company recently announced that the U.S. Patent and Trademark Office (USPTO) have issued a notice of allowance for a patent application with claims covering a pharmaceutical composition of tamibarotene in capsule form.
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