Last week oncology-focused biotech Onyx Pharmaceuticals
Nexavar has been sold by Onyx and partner Bayer
In the conference call Onyx's management stated that the advanced kidney cancer targeted treatment market in the U.S. was becoming "mature" considering that U.S. Nexavar sales were nearly flat year over year. Translated, this means that Pfizer's
Despite lower U.S. sales of Nexavar, sales in the rest of the world are still increasing. In addition, Nexavar sales in the U.S. should pick up again following the positive phase 3 clinical trial results for the drug in liver cancer that Onyx announced in February. Based on these positive study results, Onyx plans on filing a supplemental New Drug Application to treat this indication in the middle of the year, which puts the label-expanding approval date in late 2007 or early 2008.
As one biotech executive said so succinctly, "oncology is a data driven market." Therefore Onyx's future is going to be defined as much by positive clinical trial results and presentations of Nexavar at upcoming major medical conferences like ASCO in June as by the current sales trends for the drug, since it is positive study results that will drive future prescription and sales growth for Nexavar.
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