Category Archives: Biotechnology

NEW YORK (TheStreet) -- Shares of Puma Biotechnology (PBYI) are almost tripling after the company reported positive data for its breast cancer drug, while an analyst at Citigroup said that the company would probably become a takeover target. WHAT'S NEW: Puma last night announced that its breast cancer drug, neratinib, had met its primary endpoint in a Phase III trial. Specifically, patients who received the drug demonstrated a 33% improvement in disease-free survival versus placebo, the company said. The results were statistically significant, Puma added. Puma said it would file for regulatory approval of neratinib in the first half of 2015. ANALYST REACTION: In a note to investors earlier today, Citigroup analyst Yaron Werber wrote that he expects the company to be acquired in the wake of the data. The data represents a best-case scenario, and there is an 85% chance that the drug will be approved, the analyst stated. Neratinib should generate peak sales of at least $4.1B, according to Werber. He hiked his price target on the shares to $292 from $99 and kept a Buy rating on the stock. Another analyst, Howard Liang of Leerink, similarly called the ExteNET trial outcome a "best case scenario" for the … Continue reading →

Dr David Ackerley talks biotechnology and cancer therapy Dr David Ackerley from the School of Biological Sciences, ranked top in New Zealand for research quality, talks about his research in the field of biotechnology and cancer therapy. By: Victoria University of Wellington … Continue reading →

Lab Testing Equipment by Allied Biotechnology India Pvt. Ltd., Mumbai Welcome to Allied Biotechnology India Pvt. Ltd., was founded in the year 2008 and initiated supplying, distributing and importing of Lab Testing Equipment. The complete business procedure is... By: IndiaMART … Continue reading →

Puma Biotechnology Inc. (PBYI) almost tripled in extended trading after the company said a clinical trial of its experimental drug blocked the return of breast cancer in women with a type of early-stage disease. The drug, neratinib, improved disease-free survival by 33 percent compared with a placebo in a trial of 2,821 women with early-stage HER2-positive breast cancer, Los Angeles-based Puma said today in a statement. Disease-free survival refers to the interval a patient remains alive and free of signs of the illness. The company said it would apply for U.S. regulatory approval in the first half of 2015 based on the results. We are very pleased with the results, Alan Auerbach, Pumas chief executive officer, said in the statement. The company didnt return a call seeking further comment. Puma almost tripled to $169.48 in extended trading at 5:35 p.m. New York time after closing at $59.03. The company had declined 43 percent this year. If the drug is approved, neratinib may be used in many early-stage breast cancer patients whose tumors are fueled by a growth promoting gene called HER2. These patients are already often treated with the Roche Holding AG (ROG)s Herceptin. In the new trial, neratinib was … Continue reading →

Boca Raton, FL (PRWEB) July 20, 2014 KRS Global Biotechnology, Inc. is pleased to announce that it is providing the compounding service of nitroglycerin. Aside from authorized international shipments of the drug into the United States, the company is the only FDA registered and inspected Outsourcing Facility providing the service of compounded nitroglycerin. As first reported in the New York Times in March 2014, this medication is vital in emergency settings to assist with managing chest pain and severe hypertensive situations. However, supply shortages and recalls from major drug manufactures have caused an alarm from the medical community. The Primary reason for concern is there is no real substitute for the IV form of nitroglycerin. According to the American Society of Health System Pharmacists, over 300 drugs are in short supply. Thirty percent are due to manufacturing delays. Although the FDA has taken action on this to encourage drug manufacturers to produce more, they cannot force them to increase production on a particular drug. http://formularyjournal.modernmedicine.com/formulary-journal/news/iv-nitroglycerin-shortage-concerning-manageable?page=full A representative from the company states that, there seems to be no resolution to drug shortages soon. Therefore, hospitals should consider planning ahead and using other alternative sources, such as Outsourcing Facilities, for their drug … Continue reading →

KUALA LUMPUR: The National Biotechnology Policy (NBP), which is currently in its second phase, has exceeded its investment target by more than RM3 billion, said Minister of Science, Technology and Innovation Datuk Dr Ewon Ebin. Presently, we have already exceeded our end of the 2015 target, which is RM9 billion in terms of investments, said Ewon. The number now stands at more than RM12 billion and we hope we can go further beyond our target. Launched in 2005 under former prime minister Tun Abdullah Ahmad Badawi, the NBP was aimed at capitalising on the countrys resources in biodiversity and cost-competitive skilled labour to promote investment and growth in the sector. The country is nearing the end of Phase 2 of the policy, which is themed Science to Business. Some of the goals under Phase 2 include developing expertise in drugs discovery and development based on natural resources, technology acquisition, and to intensify investment promotion. Ewon said that since the inception of the Bioeconomy Transformation Programme (BTP), Bionexus-status companies have invested about RM4 billion in the sector. The Bionexus-status is a special status awarded to qualified international and Malaysian biotechnology companies, which allows the companies to receive fiscal incentives and grants … Continue reading →

House ag panels examine farm bill, biotech By Larry Dreiling The 2014 Farm Act and the benefits of biotechnology came under scrutiny in the last few days by members of the House Agriculture Committee. The Subcommittee on General Farm Commodities and Risk Management held a hearing July 10 to examine the efforts of the U.S. Department of Agriculture (USDA) as it implements the new commodity and crop insurance titles of the Agricultural Act of 2014, otherwise known as the farm bill. Members of the subcommittee questioned Under Secretary of Agriculture for Farm and Foreign Agriculture Services Michael Scuse on the status of implementing key provisions. The Agricultural Act of 2014 made sweeping reforms to the commodity title repealing several programs and providing producers with an option between Price Loss Coverage (PLC) and Agriculture Risk Coverage (ARC). Neither option triggers unless the producer suffers a significant loss. The farm bill also improved crop insurance, which now serves as the core risk management tool for producers when disaster strikes. I commend USDAs initial efforts to implement the Agricultural Act of 2014, and I challenge them to fully deliver on the promises made to our farmers and ranchers in the law, said chairman … Continue reading →

The Federal Reserve said valuations of social media and biotechnology shares appear to be stretched, even as stock valuations overall remain close to historical norms. Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms, the Fed said in its semi-annual Monetary Policy Report delivered to Congress today. The Fed saw signs of increased risk-taking in equity markets as limited to these areas. Valuation measures for the overall market in early July were generally at levels not far above their historical averages, suggesting that, in aggregate, investors are not excessively optimistic regarding equities, said the report. The iShares Nasdaq Biotechnology ETF (IBB) fell as much as 2.2 percent following the release of the report. The Global X Social Media Index ETF fell as much as 2.1 percent. To contact the reporter on this story: Matthew Boesler in New York at mboesler1@bloomberg.net To contact the editors responsible for this story: Chris Wellisz at cwellisz@bloomberg.net Mark Rohner Excerpt from: Fed Says Social Media Stock Valuations Appear Stretched … Continue reading →

Internet and biotechnology stocks, at the center of almost every volatility scare the U.S. stock market has seen in an otherwise calm 2014, were back in the lurch yesterday. Valuations for smaller biotechnology and social media stocks are stretched, the Federal Reserve said in its Monetary Policy Report delivered to Congress yesterday. The Russell 2000 Index of small-cap shares sank 1 percent, closing at the lowest level almost six weeks. The Nasdaq Biotechnology Index lost 2.3 percent and the Global X Social Media Index exchange-traded fund retreated 1.1 percent. Smaller technology stocks command some of the highest valuations in the market amid investor demand for companies with the potential to boost profit in a sluggish economy. Concern that earnings at biotechnology, Internet and small-cap companies dont justify their share prices made the industries the biggest losers in a market retreat earlier this year. A lot of people are blaming the Fed, but with valuations this high you dont need an excuse to sell, Eric Cinnamond, manager of the $724 million Aston/River Road Independent Value Fund, said in a phone interview yesterday from Louisville, Kentucky. Small-caps are being priced as if were on this growth trajectory thats not quite there. Theyre … Continue reading →

Biotechnology and social media stocks slumped as the Federal Reserve said valuations in smaller companies in the industries are substantially stretched. The Nasdaq Biotechnology Index retreated 1.5 percent, the most in a week, and the Global X Social Media Index ETF lost 1.4 percent as of 11:19 a.m. in New York. Facebook Inc. and Pandora Media Inc. slid more than 1 percent. The Russell 2000 Index of small-cap shares fell 0.8 percent. The market just got spooked with the mention of biotechnology and social media stocks, Paul Zemsky, the New York-based head of multi-asset strategies at Voya Investment Management LLC, which oversees $213 billion, said by phone. Were in a new era of macro policy where the Fed is using new tools to prevent bubbles and raising vocal concerns when markets are away from fundamentals. Fed officials have made cautionary statements about valuations for smaller companies already this year. In February, Fed Governor Daniel Tarullo said surging small caps were one reason policy makers should ensure they werent creating systemic risk in financial markets. The Standard & Poors Smallcap 600 Index trades at 26 times reported profit and the Nasdaq Biotechnology Index has a multiple of more than 500, according … Continue reading →