Amgen may buy cancer drug maker Onyx for $10.5B

August 25, 2013

Biotech drugmaker Amgen is reportedly close to buying cancer drug maker Onyx Pharmaceuticals for about $10.5 billion.

The New York Times reported Saturday that Amgen Inc. would buy Onyx for $125 per share. It cited people familiar with the matter. Onyx declined to comment, while Amgen did not immediately respond to inquiries.

Amgen's drugs includes Prolia for osteoporosis, Enbrel for rheumatoid arthritis and skin disorders, and Neulasta and Neupogen for fighting infection in cancer patients.

Onyx Pharmaceuticals Inc. markets a liver and pill called Nexavar through a partnership with Bayer AG. Sales totaled about $861 million in 2012. In July the regulators approved Onyx's Kyprolis as a treatment for a type of blood cancer.

Onyx rejected an offer from Amgen of $120 per share in June.

Explore further: Amgen 2Q net dips on higher research, other costs (Update)

Related Stories

FDA panel unanimously backs Onyx cancer drug

June 21, 2012

(AP) — A federal panel of cancer specialists on Wednesday unanimously recommended approval of an experimental drug from Onyx Pharmaceuticals Inc. for patients with advanced blood cancer.

Amgen 4Q profit drops 16 pct. on higher spending

January 23, 2013

Drugmaker Amgen Inc. on Wednesday posted a 16 percent drop in fourth-quarter profit, as higher costs for production, marketing, research and other items offset higher sales for many of its biologic medicines. The results ...

US focuses on toxic side effects with Onyx drug

June 18, 2012

(AP) — The toxic side effects of an experimental cancer drug from Onyx Pharmaceuticals may outweigh its benefits for patients with a type of blood cancer, federal health regulators said Monday.

Recommended for you

Researchers identify source of opioids' side effects

January 17, 2017

A commercially available drug may help drastically reduce two side effects of opioid painkillers—a growing tolerance and a paradoxical increased sensitivity to pain—without affecting the drugs' ability to reduce pain, ...

CVS generic competitor to EpiPen, sold at a 6th the price

January 12, 2017

CVS is now selling a rival, generic version of Mylan's EpiPen at about a sixth of its price, just months after the maker of the life-saving allergy treatment was eviscerated before Congress because of its soaring cost to ...

Many misuse OTC sleep aids: survey

December 29, 2016

(HealthDay)—People struggling with insomnia often turn to non-prescription sleep remedies that may be habit-forming and are only intended for short-term use, according to a new Consumer Reports survey.

The pill won't kill your sexual desire, researchers say

December 15, 2016

Taking the pill doesn't lower your sexual desire, contrary to popular belief, according to research published in the Journal of Sexual Medicine. The authors of the research, from the University of Kentucky and Indiana University ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.