As announced today by Pfizer (NYSE: PFE), the FDA’s Oncologic Drugs Advisory Committee voted unanimously that data for the investigational agent axitinib support a favorable benefit/risk profile for the treatment of patients with advanced renal cell carcinoma after failure of a first-line systemic therapy.
Axitinib, if approved, would compete with Onyx Pharmaceuticals’ (NASDAQ: ONXX) Nexavar. Nexavar is ONXX’s only approved product (through a collaboration agreement with Bayer) that generated commercial revenue during 2010 and 9M11. Profit-sharing, cost reimbursement, and royalty revenue from the agreement accounted for all of 9M11 revenue.
Here is PFE's press release on axitinib.