Biotech Industry Looks to Benefit From New Legislation Passed to Help Speed Up FDA Review Process
September 13 2012 - 8:20AM
Marketwired
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
Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) and Lexicon
Pharmaceuticals, Inc. (NASDAQ: LXRX).
Access to the full company reports can be found at:
www.ParagonReport.com/SVNT www.ParagonReport.com/LXRX
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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Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical
company focused on developing and commercializing KRYSTEXXA
(pegloticase) for the treatment of chronic gout in adult patients
refractory to conventional therapy. Savient ended the second
quarter with approximately $142.2 million in cash and short-term
investments, a net increase of $11.2 million for the quarter.
Lexicon is a biopharmaceutical company focused on discovering
breakthrough treatments for human disease. Lexicon currently has
four drug programs in mid-stage development for diabetes, irritable
bowel syndrome, carcinoid syndrome and rheumatoid arthritis. The
company last month reported positive preliminary results from Phase
1 studies of LX2931.
The Paragon Report has not been compensated by any of the
above-mentioned publicly traded companies. Paragon Report is
compensated by other third party organizations for advertising
services. We act as an independent research portal and are aware
that all investment entails inherent risks. Please view the full
disclaimer at: http://www.paragonreport.com/disclaimer
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