Onyx, Bayer win approval of colorectal cancer drug regorafenib

Onyx CEO Tony Coles.

Bayer HealthCare and Onyx Pharmaceuticals Inc. won approval Thursday of their colorectal cancer drug regorafenib. The Food and Drug Administration's speedy approval -- regorafenib was submitted for approval in colorectal cancer in April and submitted for approval for gastrointestinal stromal tumors at the end of August -- follows South San Francisco-based Onyx's approval in July of its treatment for multiple myeloma, called Kyprolis. Regorafenib will be marketed as Stivarga.