FRANKFURT (Reuters) - Bayer (ETR:BAYGN) on Thursday predicted at least $1 billion in 2024 sales for prostate cancer drug Nubeqa, which is playing a bigger role for the drugmaker's growth prospects after the failure of a promising anti-blood-clotting therapy.
"Nubeqa ... is set for continued growth in prostate cancer and is on track to reach blockbuster status this year – only five years after first indication launch," it said in a statement.
Blockbuster is an industry term for drugs with at least $1 billion in annual sales.
Bayer chalked up sales of Nubeqa, jointly developed with Finnish drugmaker Orion, of 869 million euros ($948 million) last year and the company has previously projected annual peak sales potential of more than three billion euros.
Bayer confirmed that even though experimental anticoagulant asundexian failed last year to sufficiently prevent strokes in high-risk patients in a trial, another study known as Oceanic would continue.
Oceanic, to test the drug in patients who have already suffered a stroke, was "progressing rapidly", it added.
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