NEW YORK, NY -- (Marketwire) -- 05/28/12 -- The Biotechnology Industry has shown investors some impressive gains this year. The SPDR S&P Biotech ETF (XBI) is up nearly 25 percent year-to-date. As large pharmaceuticals face major patent expirations in 2012 they have looked to biotech companies to provide new streams of revenue. A flurry of mergers & acquisitions activity and a growing number of FDA approvals have been contributing factors to the industry's recent boom. The Paragon Report examines investing opportunities in the Biotech Industry and provides equity research on Genetic Technologies Limited (NASDAQ: GENE) and Complete Genomics, Inc. (NASDAQ: GNOM).
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"In 2011, the U.S. FDA approved 30 new drugs, compared to 21 in 2010. We see an improving trend for FDA first cycle approvals and a rise in the rate of new drug approvals for rare diseases. We think these trends are helping to boost investor sentiment toward the agency, after years of criticism stemming from its inconsistency in making and communicating its decisions," Steven Silver, S&P Capital IQ Analyst, said in a recent note.
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Genetic Technologies is an established diagnostics company with more than 20 years of experience in commercializing genetic testing, non-coding DNA and product patenting. Shares of the company have been soaring after the company released a positive update on its breast cancer test BREVAGen. The test is designed to help physicians assess aggregate breast cancer risk from these genetic markers, plus factors from a standard clinical assessment based on a patient's family and personal history, thus giving a clearer picture of an individual woman's risk of developing breast cancer.
Complete Genomics, the whole human genome sequencing company, recently announced that it has signed four new distributor agreements with well-established Asia-Pacific life sciences companies -- GeneWorks Pty Ltd. In Australia, Cyagen Biosciences in China, AR Brown Co. Ltd. in Japan, and BML in Korea -- to better serve customers in those regions. These distributors will complement Complete Genomics' high-quality sequencing by enhancing service accessibility, convenience, and the efficient delivery of data to its regional customers.
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