Mississauga, ON -- (SBWIRE) -- 03/05/2015 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Islet Sciences Granted a U.S. Patent."
Companies mentioned in this article include iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB), AbbVie Inc. (NASDAQ:ABBV), Pharmacyclics Inc. (NASDAQ:PCYC), Geron Corporation (NASDAQ:GERN) and Islet Sciences Inc. (OTCQB:ISLT).
The biotechnology sector is off to a strong start in 2015. The iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) has gained more than 12% already this year, compared to a gain of just under 5% for the NASDAQ.
The biotech sector had a decent run in 2014 as well, as it outperformed the broader market. This was after a phenomenal year in 2013. So what is driving gains in this sector?
Major pharma companies have seen significant loss of revenue due to patent expirations in the last three-four years so the need of the hour for many of these companies is to strengthen their pipeline. While many companies have boosted their pipeline by increased spending on R&D, acquisitions remain an excellent way to get hold of potential blockbuster drugs.
On Wednesday, AbbVie Inc. (NASDAQ:ABBV), which is about to lose patent on its top drug Humira, announced the acquisition of Pharmacyclics Inc. (NASDAQ:PCYC). Apart from acquisitions, many pharma companies are also entering into licensing deals and collaboration agreements.
Late last year, Janssen Biotech had signed a major deal with Geron Corporation (NASDAQ:GERN). The trends in the biotech sector augur well for smaller companies like Islet Sciences Inc. (OTCQB:ISLT), which is engaged in the development of new medicines and technologies for the treatment of metabolic disease.
The full version of this article can be found at:
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