Bayer Discontinues Hemophilia Study - Analyst Blog


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Bayer 's ( BAYRY ) HealthCare segment recently decided to discontinue the phase II/III TRUST (TReatment with Unique recombinant rFVIIa STudy) study on BAY 86-6150. The study was evaluating the efficacy and safety of the candidate in patients suffering from hemophilia A or hemophilia B with inhibitors.

Bayer stated that a neutralizing antibody was detected during the course of the study. Since patient safety was the primary objective of the study, the company discontinued the BAY 86-6150 trial as a precautionary measure.

Bayer already has Kogenate in its product portfolio for the treatment of haemophilia. The drug generated around €1.2 billion in revenues during 2012. Bayer also has BAY 94-9027 (rFVIII mutein) in its pipeline targeting hemophilia A. The candidate is currently in phase III development.

We note that companies like Biogen Idec Inc. ( BIIB ) are also developing therapies targeting the  hemophilia market.

Bayer was recently in the news when it inked a deal to buy Conceptus Inc. ( CPTS ) for $31.00 per share or approximately $1.1 billion in cash. Bayer intends to launch a public tender soon to acquire all shares of Conceptus. The transaction is expected to close by mid-2013.

Bayer's impending acquisition of Conceptus will add the Essure permanent (non-surgical) birth control system to its product portfolio. We note that Conceptus' Essure procedure was approved in 2002 in the US and is well accepted in the market.

Bayer, a large cap pharma company, presently carries a Zacks Rank #4 (Sell). Other large cap pharma companies such as Abbvie Inc. ( ABBV ) currently look more attractive. Abbvie carries a Zacks Rank #2 (Buy).

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