Bayer settles with Onyx over Nexavar and regorafenib with $160 million payment

13 October 2011

US drugmaker Onyx Pharmaceuticals (Nasdaq: ONXX) and German pharma major Bayer HealthCare, a unit of Bayer AG (BAY: DE), have resolved a long-running argument and have restructured their partnership for the global development and marketing of their liver and kidney cancer drug Nexavar (sorafenib) and entered into a new agreement related to regorafenib, a late-stage oncology compound. The news pushed Onyx’ shares 6.6% higher to $34 in pre-market trading yesterday.

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