Bayer, Onyx Win U.S. Approval for Colorectal Cancer Drug
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Bayer AG, Germany’s largest drugmaker, and Onyx Pharmaceuticals Inc. won U.S. regulatory approval for an advanced-colorectal cancer drug for patients whose disease progressed after trying standard therapies.
The Food and Drug Administration said in a statement today that it cleared the treatment, called Stivarga, a month ahead of schedule. The two companies said they will jointly promote regorafenib in the U.S., with South San Francisco-based Onyx receiving royalties of 20 percent on global sales of the drug.