Reuters: Regulatory News: Bayer cancer drug recommended in EU

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Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Bayer cancer drug recommended in EU Jun 28th 2013, 11:58 LONDON, June xx | Fri Jun 28, 2013 7:58am EDT LONDON, June xx (Reuters) - Experts at the European Medicines Agency have recommended approval of Bayer's drug Stivarga for the treatment of metastatic colorectal cancer. Friday's positive decision from EMA's Committee for Medicinal Products for Human Use (CHMP) follows an earlier green light for the product in the United States. Stivarga is a pill that works by blocking several enzymes that promote cancer growth. Under an agreement signed in 2011, Onyx Pharmaceuticals will receive a 20 percent royalty payment on global sales of Stivarga. Bayer and Onyx jointly market Stivarga in the United States, while Bayer has sole marketing rights in the rest of the world.

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