Bayer HealthCare highlights progress of potential blockbuster drugs

Bayer HealthCare has highlighted its progress in the development of four new drugs with potential blockbuster sales capabilities.

Thanks to advancements achieved in its pipeline over the last year, the company has been able to secure European regulatory approval for its thrombosis drug Xarelto, while reporting positive advanced clinical trial data for the ophthalmology treatment VEGF Trap-Eye.

Important clinical data has also been published pertaining to Alpharadin and regorafenib, two new oncology agents, with all four of these therapies now scheduled for release within the next 18 months.

According to the company, each of these drugs has the potential to generate annual revenues of more than one billion euros (834.35 million pounds), with Xarelto offering possible peak sales in excess of two billion euros.

Bayer's chief executive officer Dr Marijn Dekkers said: "Perseverance is a vital quality in research and that is particularly true for the pharmaceuticals business. Following our efforts in past years, our pipeline is now beginning to bear fruit."

According to the firm's most recent financial report, Bayer saw improvements in sales and earnings in the third quarter of 2011 and is on track to meet its fiscal targets for the year.