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
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 A G -ADR (BAYRY): Free Stock Analysis
ReportONYX PHARMA INC (ONXX): Free Stock Analysis
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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
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
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).