German pharma giant Bayer got back-to-back bad news on two of its newest drugs, from two different countries, no less.
Eye drug Eylea and blood thinner Xarelto are pretty good products for any drugmaker to have in its lineup, and Bayer's got them both. Sales of those new stars have been plentiful, and they helped the German company raise earnings 7.7% for the third quarter, the company announced Thursday.
Now that targeted therapies like Roche's Zelboraf and Bayer's Stivarga have raced through the FDA and into patients' hands, drug developers are relying less and less on old-fashioned randomized controlled trials.
Stivarga, the cancer drug that Bayer developed with Onyx Pharmaceuticals, has nabbed yet another approval, this time in Europe, as it rolls toward its anticipated blockbuster status.
Japanese regulators have cleared Bayer's cancer drug Stivarga for a new use, against gastrointestinal stromal tumors. It's just the latest victory for the fast-tracked drug, developed with U.S.-based Onyx Pharmaceuticals.
It was a very, very big week in Europe for drugmakers. The European Committee for Medicinal Products for Human Use (CHMP) recommended 10 drugs for approval, including two biosimilars, it said today.
The European Medicines Agency's experts have backed approval for two drugs that have already gained green lights for the U.S. market.
Bayer's new cancer drug Stivarga has already added a notch to its belt. Cleared by the FDA last year to treat colorectal cancer, the drug is now approved as a treatment for a rare form of gastric cancer, gastrointestinal stromal tumors.
Bayer Healthcare is on a roll, and it has no intention of easing off the gas now. Emboldened by rising sales of Xarelto, pumped by the prospects of the macular degeneration drug Eylea and optimistic about the newly approved cancer drug Stivarga, Bayer's pharma division has outlined some ambitious plans for its $4 billion annual R&D budget.
Thank you, Xarelto, Mirena, Cipro and friends. On the strength of these fast-growing products, Bayer's pharma division out-grew its other businesses, with a gain in net sales of 6.1%, to €2.73 billion ($3.545 billion).