For Immediate Release

 

Chicago, IL – March 13, 2009 – Zacks.com announces the latest Industry Outlook. Today's outlook from Zacks Equity Research analyst Grant Zeng discusses the Biotech sector. Highlighted stocks include: of Roche (RHHBY), Genentech (DNA), Gilead Sciences (GILD - Analyst Report) and CV Therapeutics (CVTX).

 

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Here is the latest on the Biotech sector:

 

The latest megadeal is the announcement of Roche (RHHBY) to buy Genentech (DNA) at $95 per share on March 12, 2009. Also on March 12, Gilead Sciences (GILD - Analyst Report) announced it will buy CV Therapeutics (CVTX) for $1.4 billion, exceeding Astellas' proposed offering price of $1 billion.

We believe current market environment in the Pharma/biotech industry is favorable for the M&A activity. Big pharma and biotech companies still face three major challenges: patent expiration, low research and development productivity, and generic competition.

While we continue to expect increased M&A activity in the rest of 2009, we also will see licensing deals between big pharma/biotech companies and small biotech firms.

 

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