Bayer's Alpharadin improves survival in prostate cancer; VEGF Trap-Eye filed in EU

7 June 2011

There was good news for German drug major Bayer (BAY: DE), which yesterday presented late-stage trial data the on prostate cancer drug Alpharadin (radium-233 chloride), saying the study was stopped early due to impressive overall survival data.

The drug is the subject of an $800 million licensing deal signed in 2009 with Norway’s Algeta, which saw its shares leap 37% to 54 Norwegian kroner yesterday. Bayer edged 1.5% higher to 56.25 euros.

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