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ONXX > SEC Filings for ONXX > Form 8-K on 25-Apr-2013All Recent SEC Filings

Show all filings for ONYX PHARMACEUTICALS INC | Request a Trial to NEW EDGAR Online Pro



Results of Operations and Financial Condition


On April 25, 2013, Bayer HealthCare Pharmaceuticals Corporation, or Bayer, announced net sales of Nexavar for the quarter ending March 31, 2013 of 173 million as compared to 186 million in the same period in 2012. Bayer reported that net sales included sales of Nexavar in Japan of 22 million and 26 million for the quarters ended March 31, 2013 and 2012, respectively. In addition, Bayer announced net sales of Stivarga for the quarter ending March 31, 2013 of 40 million. Stivarga received marketing approval in the U.S. by the FDA on September 27, 2012. Nexavar and Stivarga sales are translated into U.S. dollars based on an average exchange rate over the period. The approximate average exchange rates for the quarters ending March 31, 2013 and 2012 were $1.32 and $1.31 for 1, respectively. Under the Collaboration Agreement between Bayer and Onyx, Bayer and Onyx share profits from global Nexavar sales, except in Japan where Bayer receives all proceeds on Nexavar net sales. Onyx receives a 20% royalty on Bayer's global net sales of Stivarga in human oncology. Stivarga is a Bayer compound developed by Bayer and jointly promoted by Bayer and Onyx in the United States.

This information in this Item 2.02, shall not be deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by Onyx Pharmaceuticals, Inc., whether made before or after the date hereof, regardless of any general incorporation language in such filing.

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