The HealthCare Segment at
) has been the key revenue generator at the company for the last
few years. Nexavar is one of the leading revenue drivers at the
segment. Nexavar is approved for liver cancer and advanced kidney
cancer in over 100 countries around the globe.
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Bayer and partner Onyx Pharmaceuticals Inc., now a wholly owned
), submitted a marketing authorization application to the
Ministry of Health, Labour and Welfare (MHLW) in Japan for
Nexavar for the treatment of locally advanced or metastatic
thyroid cancer. Nexavar enjoys orphan drug designation in Japan
for this indication.
In Jun 2013, Bayer also submitted regulatory applications in the
U.S. and EU for Nexavar for the treatment of locally advanced or
metastatic radioactive iodine (RAI)-refractory differentiated
thyroid cancer. The regulatory filings were based on positive
results from the phase III DECISION (stuDy of sorafEnib in
loCally advanced or metastatIc patientS with radioactive Iodine
refractory thyrOid caNcer) trial. Nexavar is under priority
review for the indication in the U.S.
Results from the study revealed a significant increase in
progression-free survival (PFS) of patients treated with Nexavar
compared to placebo. Data revealed a 41% reduction in the risk of
disease progression or death in patients receiving Nexavar
compared to patients under placebo.
Bayer reported Nexavar sales of €200 million in the second
quarter of 2013, up 2.6% year over year. Further label expansion
will boost Nexavar's sales. However, the oncology market is
extremely competitive given the presence of companies like
Bayer, a large-cap pharma company, presently carries a Zacks Rank
#4 (Sell). Other large-cap pharma stocks such as Roche and
) currently appear to be more attractive. While Roche carries a
Zacks Rank #1 (Strong Buy), Allergan carries a Zacks Rank #2