Thousand Oaks: Amgen Inc struck a deal to buy cancer drug maker Onyx Pharmaceuticals Inc for about US$10.4bil on Sunday, as it moves to restock its product pipeline in response to declining sales of its flagship anemia drugs.
The acquisition – which ends a two-month-long auction of Onyx – represents the fifth-largest biotechnology deal in history. It gives Amgen full rights to Kyprolis, the new multiple myeloma drug that analysts expect to reach annual peak sales in excess of US$2bil. – Reuters
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