Good News for Bayer/Onyx - Analyst Blog
January 04 2013 - 4:20AM
Zacks
The HealthCare unit of
Bayer (BAYRY) recently announced that a phase III
trial (DECISION: n=417) of Nexavar (sorafenib), co-developed and
marketed with Onyx Pharmaceuticals Inc. (ONXX),
has met the primary endpoint.
The international, multicenter, randomized, placebo-controlled
study evaluated the safety and efficacy of Nexavar versus placebo
in patients suffering from locally advanced or metastatic
radioactive iodine (RAI)-refractory differentiated thyroid
cancer.
Data from the phase III study
revealed that treatment with Nexavar resulted in statistically
significant improvement in progression-free survival compared to
those treated with placebo. Moreover, the safety and tolerability
of the drug were found identical to the historical findings. The
companies intend to unfurl detailed data from the study
shortly.
Bayer intends to seek approval of Nexavar for the indication on the
basis of encouraging results from the DECISION study. Currently,
Nexavar is approved for the treatment of unresectable liver cancer
and advanced kidney cancer. Approval for the thyroid cancer
indication would further boost Nexavar’s sales potential.
Bayer stated in its press release that the incidence of thyroid
cancer is on the rise. This form of the disease is the sixth most
common cancer in women. Bayer also stated that the patient
population affected by thyroid cancer includes three times as many
women as men. Bayer further stated that more than 160,000 new cases
of thyroid cancer come up every year worldwide. Approximately
25,000 people succumb to the disease across the globe annually.
We have a Neutral recommendation on Bayer. The stock carries a
Zacks #3 Rank (Hold). Meanwhile, Onyx Pharma carries a Zacks #1
Rank (Strong Buy).
BAYER A G -ADR (BAYRY): Free Stock Analysis Report
ONYX PHARMA INC (ONXX): Free Stock Analysis Report
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