December 20, 2005
FDA clears Bayer kidney cancer drug
WASHINGTON (Reuters) - German drugmaker Bayer AG won U.S.
approval to sell its oral drug Nexavar for treating adults with
the most common type of kidney cancer, the Food and Drug
Administration said on Tuesday.
The FDA said in a statement it approved Nexavar for
treating advanced renal cell carcinoma.
billion euros, or about $1.2 billion, for Nexavar, which was
jointly developed with Onyx Pharmaceuticals Inc.
"The approval of Nexavar to treat advanced kidney cancer
brings a much needed option for this group of cancer patients,"
Dr. Steven Galson, director of the FDA's Center for Drug
Evaluation and Research, said in a statement.
Shares of Bayer rose 24 cents to $41.19 in afternoon
trading on the New York Stock Exchange. Onyx shares were halted
on Nasdaq shortly before the approval was announced.