FDA approves new cancer drug

SAN FRANCISCO — The Food and Drug Administration has approved a new drug for colorectal cancer developed by Bayer HealthCare.

Bayer and Onyx Pharmaceuticals announced the approval of Stivarga for colorectal cancer that has spread to other parts of the body, also known as metastatic CRC, specifically for those patients who have received treatment with currently available therapies.

Bayer developed the drug and will pay royalties to Onyx on future global net sales of the drug for cancer. The two companies will promote the drug together in the United States.

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