Zacks Industry Outlook Highlights: Myriad Genetics, Onyx Pharmaceuticals Inc., AMAG Pharmaceuticals Inc., Dendreon and 3SBio Inc.

For Immediate Release

Chicago, IL – June 1, 2009 – Zacks.com releases the latest Industry Outlook. Today’s interview is with senior analyst Grant Zeng, who talks about the Biotech Industry, including Myriad Genetics (MYGN - Analyst Report), Onyx Pharmaceuticals Inc. (ONXX - Analyst Report), AMAG Pharmaceuticals Inc. (AMAG - Analyst Report), Dendreon (DNDN - Analyst Report) and 3SBio Inc. (SSRX - Snapshot Report).

A synopsis of today’s Industry Outlook is presented below. The full article can be read at http://at.zacks.com/?id=2678.

Our best picks at this point include Myriad Genetics (MYGN - Analyst Report), Onyx Pharmaceuticals Inc. (ONXX - Analyst Report) and AMAG Pharmaceuticals Inc. (AMAG - Analyst Report), Dendreon (DNDN - Analyst Report) and 3SBio Inc. (SSRX - Snapshot Report). We have different reasons for a BUY rating for each of the four companies, but all of these companies have one thing in common -- strong balance sheets, which eliminates immediate financing needs.

Both MYGN and ONXX are already profitable. MYGN is a molecular diagnostic company. The company's molecular diagnostics business has been very strong and continued to grow impressively in fiscal third quarter of 2009 (ended March 31), and the outlook is bright even at the current economic environment. Our price target is $50.

For AMAG and DNDN, both are late-stage development companies. AMAG filed an NDA for its lead drug Feraheme (Ferumoxytol) in December 2007. Feraheme is indicated for the treatment of iron deficiency anemia, and we expect the FDA approval to come by the middle of 2009. AMAG is not profitable yet, but with Feraheme approval at its fingertips, the company should enjoy strong growth in the coming years. The balance sheet is strong. As of March 31, 2009, the company had $195 million in cash, cash equivalents and investments and no long-term debt. Our price target is $62.

DNDN's lead product candidate Provenge is indicated for the treatment of prostate cancer. The company reported positive results from its IMPACT phase III trial in April 2009 and will file a sBLA to the US FDA in fourth quarter of 2009. We estimate that the FDA will approve Provenge in 1H10. Our price target is $25.00.

SSRX is an integrated, China-based biotech company focused on developing and marketing therapeutics for nephrology, oncology and cancer supportive care. The company's flagship product EPIAO is the number 1 brand in the Chinese EPO market. Its second lead product TPIAO has gained rapid physician acceptance for thrombocytopenia, and is making a meaningful contribution to the company's top-line growth. A recent deal with US-based AMAG Pharmaceuticals Inc. will boost its expansion into IV Iron market. Our price target is $10.

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