Monday, August 26, 2013

Onyx Pharmaceuticals Acquired By Amgen For $10.4 Billion

San Francisco-based biopharmaceuticals firm Onyx Pharmaceuticals has been acquired by fellow biotech developer Amgen, in a deal worth $10.4 billion. Amgen said it would pay $125 per share in cash, or $9.7 billion net in estimated cash at hand at Onyx, for Onyx Pharmaceuticals. Onyx develops a range of drugs used for treating patients with cancer. The two said the deal is expected to close in the fourth quarter.