Drug Approvals Expected to Rise as Trump Pledges to Speed Up Approval Process: Latest Reports on Arrowhead Pharmaceuticals and Jaguar Animal Health

NEW YORK, NY / ACCESSWIRE / February 1,
2017 / The Biotech Industry has outperformed the broader markets in 2017, despite all the criticism drug makers have been facing. The iShares NASDAQ Biotechnology Index ETF gained 2.84 percent to close at 278.07, up 4.78 percent year-to-date, while the SPDR S&P Biotech ETF spiked 4.14 percent to close at 64.90, up 9.65 percent year-to-date. In comparison, the Dow Jones Industrial Average and the S&P 500 Index have posted gains of 0.51 percent and 1.79 percent, respectively, so far this year. The Biotech Industry received a boost Tuesday after President Trump stated he would loosen drug regulations and push for a faster drug approval process.

“We’re also gonna be streamlining the process so that from your standpoint, when you have a drug, you can actually get it approved if it works instead of waiting for many, many years,” President Trump said. “The U.S. drug companies have produced extraordinary results for our country, but the pricing has been astronomical for our country.”

The U.S. Food and Drug Administration (FDA) approved just 22 new drugs in 2016, less than half of the 45 new drugs approved in 2015, according to Reuters. The number of drugs approved last year was the lowest number of approvals since 2010.

Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR)

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Arrowhead Pharmaceuticals’ shares spiked 10.86 percent to close at $1.94 a share Tuesday. The stock traded between $1.70 and $1.97 on volume of 1.09 million shares traded. Arrowhead Pharmaceuticals develops medicines that treat intractable diseases by silencing the genes that cause them. ARO-HBV is being developed to be a potentially curative therapy for patients with chronic hepatitis B infection, ARO-HBV is currently at preclinical stage. The company has reported net loss of $81.7 million or $1.34 a share in the year ending on September 30, 2016, where it spent $41.5 million on R&D operations. During fiscal 2016, the company entered into two collaboration and license agreements with Amgen, under which Arrowhead received $35.0 million upfront cash payments and $21.5 million in the form of equity investment, considering future royalties, total value of the deal goes up to $673.5 million. The company is scheduled to report results for the first quarter of fiscal 2017 on Monday, February 6, 2017.

Jaguar Animal Health Inc. (NASDAQ: JAGX)

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Research Report Click Here

Jaguar Animal Health’s shares soared 56.6 percent to close at $0.83 a share Tuesday. The stock traded between $0.73 and $1.06 on volume of 9.25 million shares traded. On January 31st, the company announced that it has entered into a collaboration agreement to license, develop, and commercialize Canalevia, a treatment of acute and chemotherapy-induced diarrhea in dogs with Elanco US Inc., a subsidiary of Eli Lilly and Company. Under the deal Jaguar will receive an upfront payment of $1.5 million and additional payments on certain development, regulatory and sales milestones having up to aggregate amount of $61 million.

“Elanco continues to seek innovative solutions for our customers and the animals they care for,” said Aaron Schacht, Vice President of Elanco Research and Development. “We look forward to collaborating with Jaguar to bring this potential new, exciting solution to veterinarians around the world.”

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