Baxter International Inc. said Thursday a key hemophilia drug under development met its primary goal in a late-stage clinical study.
The drug, known as BAX 855, is essentially a stronger, extended-release version of its flagship hemophilia drug Advate, which is sold in dozens of countries around the world.
The treatment is seen as a key part of the companys drug pipeline and its multibillion-dollar hemophilia franchise.
The primary goal of the clinical trial was to show the drug reduces bleeding rates in patients administered the drug on a preventive basis versus with on-demand treatment.
Deerfield-based Baxter, which raised its forecast for its hemophilia franchise last month, said BAX 855, when issued twice-weekly on a prophylactic, or preventive basis, resulted in a 95 percent reduction in annualized bleed rates.
It is partnering with San Francisco-based Nektar Therapeutics on development of the treatment.
Hemophilia A is a genetic disorder caused by certain missing or defective clotting agents in the blood. About 20,000 Americans suffer from the disorder, according to the National Hemophilia Foundation.
Baxter said it plans to apply for approval to sell the drug from the U.S. Food and Drug Administration before the end of the year. It also said it plans to begin a separate late-stage clinical trial to test the drug in patients under age 12.
Baxter shares were trading up 62 cents, or 0.8 percent, at $75.87 on Thursday afternoon.
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Baxter reports success in late-stage trial on extended release hemophilia drug