Biogen Idec Inc. (BIIB), Celgene Corporation (CELG), Gilead Sciences, Inc. (GILD): 3 of Biotech’s Best

Celgene Corporation (NASDAQ:CELG) itself apparently sees more upside. In mid-June, the company announced an additional $3 billion share repurchase. Year-to-date, Celgene Corporation (NASDAQ:CELG) has repurchased roughly $1.8 billion of stock and has exhausted the previous $2.5 billion stock authorization. Over the last four years, Celgene Corporation (NASDAQ:CELG) has repurchased approximately $6.5 billion of its common stock.

Drugs for unmet needs

Gilead Sciences, Inc. (NASDAQ:GILD) discovers, develops, and commercializes therapies for the treatment of life threatening diseases and treatment in areas of unmet needs.

In April, Gilead Sciences, Inc. (NASDAQ:GILD) submitted a new drug application to the FDA for sofosbuvir, a once a day oral treatment for chronic hepatitis C virus. Chronic HCV affects up to four million Americans and is the leading cause of liver cancer and liver transplantation in the U.S.

Currently treatment for HCV includes 24-28 weeks of therapy with an injectable drug known to cause dramatic side effects, leaving some patients unable to complete therapy. Sofosbuvir shortens the therapy to 12-16 weeks.  The company also recently reported marked success with a treatment in clinical studies for indolent non-Hodgkin’s lymphoma.

At the end of last year, Gilead Sciences, Inc. (NASDAQ:GILD)’s market cap stood at $84.34 billion, almost doubling in value during 2012.  In May of 2013, Gilead Sciences, Inc. (NASDAQ:GILD)’s market value surpassed big pharma players like AstraZeneca plc (ADR) (NYSE:AZN), Bristol Myers Squibb Co. (NYSE:BMY), and Eli Lilly & Co. (NYSE:LLY).

Earnings for its first quarter missed expectations by $0.02, but the company is optimistic going forward. Shares are up roughly 40% this year and should continue their upward trajectory thanks to pioneering new treatments and strategic alliances.

Foolish final thoughts

The biotech sector should continue to be a market leader. As the economy improves, so should funding for new research which will lead to more cutting-edge products, drive growth and boost revenue. The best days for biotech lie ahead.

The article 3 of Biotech’s Best originally appeared on Fool.com and is written by Diane Alter.

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