Zacks Industry Outlook Highlights: BioMarin, Onyx, Celgene and AMAG

Zacks.com announces the latest Industry Outlook. Today’s outlook from Zacks Equity Research analyst Grant Zeng discusses the Biotech sector. Highlighted stocks include: BioMarin Pharmaceutical Inc. (Nasdaq: BMRN), Onyx Pharmaceuticals Inc. (Nasdaq: ONXX), Celgene Corp. (Nasdaq: CELG) and AMAG Pharmaceuticals Inc. (Nasdaq: AMAG).

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Here is the latest on the Biotech sector:

We expect the M&A spree will continue in 2009. While licensing has been the lifeline for biotech industry, we believe big pharma and giant biotech companies are more willing to swallow small biotech companies with very low valuations in current market conditions.

The market environment in the pharma/biotech industry is favorable for the M&A activity. However, big pharma and biotech companies still face three major challenges: patent expiration, low research and development productivity, and generic competition from companies sitting on a pile of cash reserves. Acquisition will solve at least part of these problems.

Our top picks for biotech industry include BioMarin Pharmaceutical Inc. (Nasdaq: BMRN), Onyx Pharmaceuticals Inc. (Nasdaq: ONXX), Celgene Corp. (Nasdaq: CELG) and AMAG Pharmaceuticals Inc. (Nasdaq: AMAG). All four companies have strong balance sheets, which eliminates immediate financing needs.

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