(Recasts; adds details)
Oct 21 (Reuters) - Susquehanna Financial Group began
coverage of 10 biotechnology firms with a "positive" rating,
and said the companies offered strong development capabilities
and broad commercial potential in oncology and inflammation.
"We believe the companies... are lead contributors to more
molecularly inspired medicines offering novel ways of
addressing the underlying molecular defect," the brokerage said
in a note to clients.
Companies initiated by the brokerage include Onyx
Pharmaceuticals Inc (ONXX.O) and Ariad Pharmaceuticals (ARIA.O)
that are focused on the development of cancer drugs.
"While the increasing cost of capital and economic
uncertainty continues to weigh on the group, we note the core
fundamentals are sound -- innovation remains unwavering, and
biotech is well positioned to address big pharma's many woes,"
Susquehanna said.
The brokerage noted that roughly one in two men and women
will develop cancer in their lifetime and there is a large
unmet medical need for more effective medicines.
For the brokerage's price target on the stocks, double
click on [ID:nWNAB9111]
(Reporting by Anand Basu in Bangalore; Editing by Amitha
Rajan)
