Bayer Seeks Eylea Label Expansion in the EU, Provides View - Analyst Blog

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The HealthCare segment at BayerBAYRY has submitted a marketing authorization application for Eylea for intravitreal injection for the treatment of myopic choroidal neovascularization (CNV) to the European Medicines Agency (EMA).

We note that Eylea is already approved in Japan for the treatment of myopic CNV. Eylea is approved for treating patients suffering from neovascular (wet) age-related macular degeneration in several countries. The drug is also approved for the treatment of macular edema following retinal vein occlusion. Bayer is looking to expand Eylea's label to other eye disorders.

Bayer has licensed exclusive commercialization rights for the product in the ex-U.S. markets from Regeneron Pharmaceuticals, Inc. REGN . Regeneron and Bayer equally share the profits from Eylea sales in all ex-U.S. territories except Japan, where Regeneron receives royalties on Eylea's net sales. Eylea is an important drug for both Bayer and Regeneron.

Eylea has performed encouragingly since its launch. Both Bayer's and Regeneron's revenues have benefited from the drug. Another label expansion will boost sales further.

Meanwhile, Bayer has provided an outlook for its health care business. The company stated that combined sales of Xarelto (anticoagulant), Eylea, Stivarga (oncology), Xofigo (oncology) and Adempas (pulmonary hypertension) are expected to increase to approximately €4 billion in 2015 from €2.9 billion in 2014. The peak annual sales potential of these products is expected to be at least €7.5 billion.

Revenues from the HealthCare segment are expected to grow 6% per annum through 2017 to more than €25 billion. Bayer expects sales at the Pharmaceuticals, Consumer Health and Crop Science businesses to increase 7%, 4% and 5%, respectively, through 2017.

Bayer currently carries a Zacks Rank #4 (Sell). Affymetrix Inc. AFFX and Cytokinetics, Incorporated CYTK are better-ranked stocks in the health care sector, carrying a Zacks Rank #1 (Strong Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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