Bayer AG Gets FDA Approval For Advanced Prostate Cancer Drug; Bayer AG And Algeta ASA To Co-Promote Xofigo in United States-DJ

Wednesday, 15 May 2013 02:14pm EDT 

Dow Jones reported that Federal regulators approved a new drug from Bayer AG to treat certain types of advanced prostate cancer. The drug, which will be sold with the brand name Xofigo, is meant to treat prostate cancer that has spread to the bones, but not other organs, in men who have previously received separate therapy designed to lower testosterone. Testosterone is a hormone that can stimulate prostate cancer growth. The drug will cost USD 69,000 for a complete course of therapy, which would be six injections given at four-week intervals. Xofigo was initially under development by Algeta ASA. In 2009 Bayer AG entered into an agreement with Algeta ASA to get the drug to the marketplace. Bayer AG and Algeta ASA will co-promote Xofigo in the United States. Algeta ASA in a statement said the drug's production is underway and is expected to be available in a few weeks. 

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