Market Overview

Amgen to Acquire Onyx Pharmaceuticals For $125/Share In Cash

Share:

Amgen (NASDAQ: AMGN) and Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) today announced that their Boards of Directors have unanimously approved a transaction under which Amgen will acquire all of the outstanding shares of Onyx for $125 per share in cash.  The purchase price is $10.4 billion, or $9.7 billion net of estimated Onyx cash. 

Onyx Pharmaceuticals, Inc. is a global biopharmaceutical company engaged in the development and commercialization of innovative therapies for improving the lives of people with cancer.  Onyx has an important and growing multiple myeloma franchise, with Kyprolis® (carfilzomib) for Injection already approved in the United States (U.S.). In addition, Onyx has three partnered oncology assets: Nexavar® (sorafenib) tablets (an Onyx and Bayer HealthCare Pharmaceuticals, Inc. compound), Stivarga® (regorafenib) tablets (a Bayer compound), and palbociclib (a Pfizer, Inc. compound).  Onyx also has multiple oncology compounds in various stages of clinical development.

Amgen

See full press release

Posted-In: M&A News Guidance Contracts Asset Sales Management Global

 

Related Articles (AMGN + ONXX)

View Comments and Join the Discussion!

NIAAA Funds Clinical Trial of MediciNova's MN-166 in Treating Alcoholism

Benzinga's Weekend M&A Chatter