Onyx Pharma Bullish on Nexavar - Analyst Blog
Onyx Pharma (ONXX) is engaged in the development of novel cancer therapies that target the molecular basis of cancer. With its collaborator Bayer Healthcare,?Onyx Pharma?is developing a small molecule drug Nexavar (sorafenib).
The European Union (EU) and U.S. have approved Nexavar for 1st line treatment of liver cancer in the 4th quarter of 2007. In Asia, South Korea and China have approved Nexavar for liver cancer.
We believe Nexavar sales will be further boosted in the rest of 2008 and beyond due to this new indication. Label expansion for Nexavar into other cancer indications such as breast cancer is underway. We believe Nexavar has a potential to become a blockbuster for Onyx Pharma. We model sales of Nexavar will reach $.1 billion in 2010.
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