By Olaf Ridder

Bayer AG said Wednesday that its new prostate cancer drug, Nubeqa, has outperformed sales expectations.

The German chemicals company did not disclose exact sales figures in an interview with the Wall Street Journal, but its head of pharmaceuticals Stefan Oelrich said the drug has exceeded all expectations and sold well in the U.S. and Europe.

"We have a product which is unmatched in its effects and side effects profiles, and that is something we hear back from doctors too," Mr. Oelrich said.

Bayer expects annual sales of the new drug to be worth over one billion euros ($1.22 billion).

Write to Olaf Ridder at olaf.ridder@wsj.com

(END) Dow Jones Newswires

January 13, 2021 04:54 ET (09:54 GMT)

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