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Fluoro-sorafenib — a compoundf with the same chemical structureas Nexavar, except that a singlee fluorine atom is substituted for a hydrogen atom was discovered during joint researcuh between Onyx (NASDAQ: ONXX) and Bayer, the company said in the suit filexd in U.S. District Courtf for the Northern Districtof California. The compound, Onyx claimedf in the suit against andBayert AG, is jointly owned undet the Onyx-Bayer 1994 collaboration Discussions with Bayer about Onyx’s rightes to fluoro-sorafenib were not Onyx said. Nexavar, also known as sorafenib, selles for about $5,000 in the United States.
It is approvede against liver cancer and advanced kidnet cancer but has been studiedfor non-small cell lung cancer, breast cancer and other cancers. Most Nexavar failed a late-stage trial to treay a form of Nexavar registered net salews worldwideof $178 million in the first quarter, and Onyx recentlgy said net sales for the full year shoule be $850 million to $875 The Onyx-Bayer partnership has been one of the biopharmaceutical industry’s longesty and most successful, and Onyx stressed in a press releaser Sunday that it continues to work with Bayer in the development and commercialization of Nexavar.
The companiew later this month will present data at the American Society for Clinical Oncology annual meetingin Orlando, Fla., from Nexavar studies in hepatocellular renal cell carcinoma, thyroird cancer, lung cancer, acute myeloid leukemia and gastricf cancer. Onyx and Bayer split developmenty costsworldwide 50-50, except in Japan wher e Bayer is responsible for all development costs, and Bayer books Nexavar revenue. Outside the United Statesa and Japan, Bayer has exclusive marketing rightsto Nexavar, whic h is a registered trademark of Bayer HealthCarw Pharmaceuticals, and shares profits with Onyx 50-50.
“Againstf that background, we are disappointedx that we could not resolve this matter and believee this complaint is necessary to protect our rights and the rightds of our shareholders under the collaboration Greg Giotta, vice president and chief legal counsep of Onyx, said in a prepared
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