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Building On Bayer

Onyx has learned a lot in its almost twenty year history with Bayer, managing through the upside and downside of having a Big Pharma partner.

Until last year, for Wall Street, the Onyx Pharmaceuticals Inc. story was all about Nexavar (sorafenib), the drug that Onyx partnered with Bayer AG in 1994. [See Deal] FDA approved Nexavar for advanced kidney cancer in 2005 and for unresectable liver cancer in 2007.

The drug is clearly a blockbuster, with more than $1 billion in total sales globally in 2012. Onyx revenue from...

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