Bayer Thrombosis drug Asundexian shows positive study result

The company's investigational treatment asundexian demonstrated a 67% reduction in ISTH major and clinically relevant non-major bleeding in patients with atrial fibrillation at risk of stroke, Bayer said Sunday.

Asundexian is a so-called factor 11a inhibitor and was being compared to a drug sold under the brand name Eliquis by Pfizer Inc. and Bristol-Myers Squibb Co.

Bayer is seeking to turn asundexian into a new treatment option in thrombosis prevention to help reignite growth in the pharma business as its blockbusters -- the eye-care treatment Eylea and the blood-thinner Xarelto -- approach the end of their patent protection periods. Bayer is trying to offset the expected sales slowdown by pivoting to cutting-edge medicines.

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Bayer shares hit a 52-week high at 65.10 euros on Monday, a 3.3% increase from the previous close.

Chief Executive Officer Werner Baumann has faced investor discontent since the controversial decision to buy Monsanto for $63 billion, which brought U.S. litigation claiming the company's weedkiller Roundup causes cancer. Bayer denies the link but has pledged to spend as much as $16 billion to try to move on. Still, long-time investor Temasek Holdings Pte is pushing for Baumann's ouster, Bloomberg has reported.

The trial of asundexian was designed as a "dose-finding phase 2" study and "not powered to discern or test differences in the rates of thrombotic events," Bayer said in a statement.