Report: Biotech revenue, spending on R&D rose in 2011

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September 27, 2012 BIO has teamed up with FedEx to offer member companies discounts of up to 35% off select FedEx Express, FedEx Ground and FedEx Home Delivery services through the BIO Business Solutions cost-savings program. Learn more. The news summaries appearing in BIO SmartBrief are based on original information from news organizations and are produced by SmartBrief, Inc., an independent e-mail newsletter publisher. The information is not compiled or summarized by BIO. Questions and comments should be directed to SmartBrief at bio@smartbrief.com.   Today's Top Story    Report: Biotech revenue, spending on R&D rose in 2011 Biotech companies, on average, generated $76 million in revenues last year, up 24% compared with 2010, according to a report from consulting firm BDO USA. On average, research and development spending grew to $50 million from about $47 million in 2010. Major biotechs with revenues surpassing $50 million reported a 33% increase in revenue, but smaller biotechs reported a 12% decline. PharmaTimes (U.K.) (9/25), Pharmalot.com (9/25)      LES Meeting: Network with Top Licensing & BD Execs 10/14-17 in Toronto! Meet your next partner and connect with execs from Bayer, Lilly, GSK, Merck, Pfizer, Roche, Shire, Takeda and more! Featuring Dr. Eric Topol on the Convergence of Life Sciences and High Tech plus sessions on royalty rates, dealmaking and more. Save $100 with code BIONews. Register now!   Health Care & Policy  Moody's upgrades outlook, expecting rebound as patent cliff passes Moody's Investors Service has upgraded its outlook for the drug industry, projecting that the effects of a wave of patent expirations will start to subside. "The stable outlook reflects our view that the worst of the industry's blockbuster patent expirations has passed," said Moody's senior vice president Michael Levesque. PharmaTimes (U.K.) (9/24)      HHS grants FDA authority to oversee clinical trial data The FDA has been given the authority to investigate potentially false, misleading or missing data from studies filed to the database ClinicalTrials.gov, according to an announcement in the Federal Register. The move follows reports of cases where complete trial data was not provided. Pharmalot.com/Pharma Blog (9/25)      GSK and Theravance seek FDA approval of lung drug Breo The FDA accepted GlaxoSmithKline and Theravance's application for Breo as treatment for chronic obstructive pulmonary disease. An approval decision is expected by May 12. CNBC/The Associated Press (9/26)      Versartis drug shows promise against growth-hormone deficiency An early-stage study found that single doses of Versartis' VRS-317, a once-monthly form of recombinant human growth hormone, were well tolerated and safe in adults with growth-hormone deficiency, while drug-related adverse events were mainly mild and transient. "We are very pleased with the recent clinical results ... and believe that the opportunity to present these findings to the pediatric endocrinology community is further evidence of the important potential that exists for VRS-317," CEO Jeffrey Cleland said. Pharmaceutical Business Review Online (9/25)      NIH responds to austerity Biomedical discoveries are coming at a dizzying pace, but it is unclear whether the resources will be available to allow future such discoveries, NIH Director Dr. Francis Collins says. The NIH budget has remained relatively flat for a decade, and the institutes have responded by collaborating more with industry and international organizations. The agency is offering a "skip the postdoc" program to support young scientists. BioCentury (9/23)        Company & Financial News  NuPathe raises $28M to commercialize migraine patch Zelrix NuPathe obtained $28 million in a private stock sale to support a regulatory application and commercialization of migraine patch Zelrix, or NP101. The financing, together with expected cost containment, will provide necessary financial resources, CEO Armando Anido said. MedCityNews.com (9/26)        Industry Deals  Galaxy Biotech licenses cancer drug candidate to Roche Roche Holding agreed to pay $8 million upfront to obtain exclusive rights to Galaxy Biotech's antibody drug candidate that targets fibroblast growth factor 2, which can be overexpressed in many forms of cancer. Galaxy also could receive milestone fees and sales royalties. PharmaTimes (U.K.) (9/26), Xconomy/San Francisco (9/25)      The Buzz(CORPORATE ANNOUNCEMENTS) Biopharma Leaders to Discuss Growing Importance of Drug Repositioning at Arrowhead's 2nd Annual Drug Repositioning and Indications Discovery Conference Interested in learning more about advertising in BIO SmartBrief? Contact Meryl Harold at (202) 407-7828 or mharold@smartbrief.com.    Featured Content    How Drug-Testing Cost One Firm $750,000 Courtney Rubin Next-Gen Marketing: Press Release 2.0 Angela Stringfellow Why Putting Employees First is Profitable Ivana Taylor Gender-Bending Small Businesses That Break Stereotypes  Katie Morell Collecting Entrepreneur's Ideas on a U.S. Road Trip Donna Fenn   Food & Agriculture  Study: Biotechnology boosted farm income by $78 billion in 15 years Adoption of biotech crops raised global farm income by $78.4 billion and cut the use of pesticides by 438 million kilograms from 1996 to 2010, according to a study by PG Economics. The Hindu Business Line (India) (9/25)        Industrial & Environmental  Algenol confirms rising yields in algae-to-ethanol system Algenol Biofuels reported that its four-acre algae-to-ethanol facility in Lee County, Fla., has achieved continuous output at the 7,000 gallon-per-acre level, exceeding the company's initial target of 6,000, according to Jim Lane. The next step for Algenol is the establishment of a 36-acre biorefinery, which is slated to enter service in the first quarter of 2013, Lane notes. Algenol's results, as well as those from Joule Unlimited, indicate their next-generation systems are capable of yielding up to 10 times the output achievable in first-generation biofuel systems, Lane says. BiofuelsDigest.com (9/25)        News from BIO  Are you taking full advantage of your membership? BIO's cost-savings program, BIO Business Solutions, is helping 2,700 companies nationwide save on the cost of essential products and services. 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