NEW YORK, NY--(Marketwire - Sep 24, 2012) - Despite concerns of a global economic slowdown the Biotech Industry has impressed investors with strong gains in 2012. Patent expirations, favorable legislation, and a faster review process have been some of the contributing factors for the industry's current boom. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on Avanir Pharmaceuticals, Inc. (
The Food and Drug Administration Safety and Innovation Act (FDASIA) was signed into law on July 9, 2012 by President Obama. The law allows the FDA to collect "user fees" to help fund reviews of innovator drugs, medical devices, generic drugs and biosimilars.
"The legislation will enhance the development and review of innovative new therapies through increased transparency and scientific dialogue, advancements in regulatory science and strengthened post-market review. It will also increase the Food and Drug Administration's (FDA) access to external expertise to improve the drug review process," Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood said in a statement.
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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. The company recently reported that NUEDEXTA exceeded 10,000 prescriptions for the month of August, which annualize to a gross NUEDEXTA sales run-rate of over $65 million.
Cyclacel Pharmaceuticals is a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious diseases. For the six months ended June 30, 2012, the Company reported a net loss of $6.5 million as compared to a net loss of $8.1 million for the six months ended June 30, 2011.
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