Bayer transfers three oncology drugs to Genzyme for an initial $650 million
German pharmaceutical major Bayer has entered into an agreement to transfer part of its oncology portfolio to Genzyme, a USA-based leading biotechnology company, although retaining some multiple sclerosis rights, leaving it free to concentrate its cancer efforts on its multikinase inhibitor Nexavar (sorafenib) for the treatment of unresectable hepatocellular carcinoma, which generated 2008 revenues of 462.0 million euros ($607.8 million) and is being investigated in other indications such as non-small cell lung cancer, as well as additional development products.
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