Mixed MAGELLAN study data on Bayer and J&J's Xarelto call into question blockbuster potential

German drug major Bayer (BAY: DE) earlier this week presented mixed data regarding its blood thinner Xarelto (rivaroxaban) for preventing venous thromboembolism (VTE) in hospitalized ill patients. Data from the late-stage study (MAGELLAN: n= 8,101) were presented at the annual meeting of the American College of Cardiology. Xarelto has been co-developed with US drug major Johnson & Johnson (NYSE: JNJ).

The results call into question the drug’s approval in acutely ill patients, a market that could have reached $2.8 billion in sales, said Larry Biegelsen, a Wells Fargo Securities analyst, quoted by Bloomberg. Bayer, however still believes that Xarelto has the potential to generate sales of that level.

Data from the multi-national, randomized, double-blind, placebo-controlled study revealed that Xarelto was as effective as Sanofi- Aventis’ (Euronext: SAN) Lovenox (enoxaparin) in preventing VTE over the short-term (10 ± 4 days). Bayer’s therapy, however, was superior to the Sanofi blood thinner over the long-term (35 ± four days).