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October 12, 2011

Onyx to retain Nexavar rights

Onyx pharmaceuticals have reached an agreement with Bayer that will see the company retain rights to the cancer drug Nexavar even if Onyx is bought out by another company.

By Daniel Garrun

Onyx pharmaceuticals have reached an agreement with Bayer that will see the company retain rights to the cancer drug Nexavar even if Onyx is bought out by another company.

The restructured partnership also includes a clause for Bayer to pay Onyx $160m, potentially rising by another $15m, for Nexavar rights in Japan.

The deal resolves a lawsuit Onyx filed in 2009 seeking access to an experimental cancer drug called regorafenib by giving Onyx a fifth of future sales.

Onyx president and chief executive Anthony Coles said that these new agreements strengthen the collaboration and provide Onyx the opportunity to participate significantly in the market potential of regorafenib.

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