The investment report on Keryx Biopharmaceuticals Inc. (Nasdaq:KERX) should be of particular interest to other pharmaceutical companies: Baxter International Inc. (NYSE:BAX), Amgen Inc. (Nasdaq:AMGN), Genzyme Corp. (Nasdaq:GENZ) and Amicus Therapeutics Inc. (Nasdaq:FOLD).

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Pharmaceutical company Keryx Biopharmaceuticals Inc. (KERX) focuses on the acquisition, development and commercialization of pharmaceutical products for the treatment of life-threatening diseases, including renal disease and cancer.

Its products under development include Zerenex, an oral iron-based compound is in phase II clinical development for the treatment of hyperphosphatemia in patients with end-stage renal disease in the United States and Japan; and KRX-0401, an oral anti-cancer agent in phase II clinical development that modulates Akt and various other key signal transduction pathways.

In the report, the analyst notes:

"Revenue increased by $3,128,000 to $3,327,000 for the three months ended March 31, 2009, as compared to $199,000 for the three months ended March 31, 2008. During the three months ended March 31, 2009, the Company recognized $3.0 million in license revenue from a milestone received from JT and Torii due to its initiation of a phase II clinical study of Zerenex in Japan.

"KERX announced results of the phase II study of Zerenex (ferric citrate) for the treatment of elevated serum phosphorous levels, or hyperphosphatemia, in patients with end-stage renal disease (ESRD) on thrice weekly hemodialysis. The study was a multicenter, open-label clinical trial, which enrolled 55 patients. The primary objective of this study was to assess the tolerability and safety of Zerenex (ferric citrate) with doses ranging from approximately 1 gram per day to 12 grams per day. The FDA also reviewed the final reports for the 90-day rat and 16-week canine toxicology studies."

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