ATLANTA, Dec. 27, 2012 /PRNewswire-USNewswire/ -- Biotechnology played a pivotal role in the development of more targeted drugs in 2012 as the science continues to elucidate the molecular mechanisms of diseases. The volatile biopharmaceutical industry historically comprised of venture-backed start-ups produced some whopping news in 2012, from the first new obesity drug in 13 years to a heated race to develop the first all-oral, side-effect-free treatment for hepatitis C. Nothing, however, was bigger than the arrival of the pharmaceutical industry at the long-dreaded patent cliff.
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As blockbuster drugs began going off patent in droves, big pharmas saw sales swoon, creating potential opportunities for nimble biotechs particularly in technologies such as therapeutic vaccines, stem cells and tissue replacement. Erosion from generics will erase some $148 billion from pharma industry revenues by 2018.
"BioWorld's editorial team voted on the 10 most poignant stories that emerged in 2012, and big pharma's patent cliff was undeniably No. 1," said Lynn Yoffee, BioWorld's executive editor. "As the stalwart pharmaceutical giants are stumbling to replace lost revenues and replenish development pipelines, they are either turning to partner with biopharmaceutical firms or building their own biotech divisions. Either way, it's a nod to the increased reliance on the science of biotechnology as a primary driver in the development of the most effective human therapeutics."
Read about BioWorld's Top 10 at www.bioworld.com.
The other nine stories of 2012 include:
2. The All-Oral HCV Race
3. New Obesity Drugs Pass FDA Muster
4. Two Firsts: Biologic Blockbuster and Biosimilar MAb
5. The Rocky Fundraising Road Continued
6. JOBS Act + FDASIA Pass Despite U.S. Political Squabbles
7. Genomics Finally Arrives (With a Real Purpose)
8. The First Gene Therapy is Approved
9. Through the Thicket of Alzheimer's Failures
10. A Nobel Prize for Regenerative Medicine Breakthrough
For more retrospective discussion on the biotech industry's hits and misses in 2012, see Managing Editor Jennifer Bogg's blog post: "Big Wins, a Cliff, a Race and a Red Face: A 2012 Recap" at http://bioworld.blogs.bioworld.com/
BioWorld Today, and its analytical companion, BioWorld Insight, are the biopharmaceutical industry's most respected news sources and have been for more than two decades. All of that information is now leveraged in BioWorld Data, business intelligence for biopharmaceutical executives.
CONTACT: Lynn Yoffee, Executive Editor, 404-262-5408
SOURCE BioWorld