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Amgen Scoops Up Onyx For $10.4 Bln

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Amgen Scoops Up Onyx For $10.4 Bln
AIRED:
How do you re-build your pipeline in the biotech world? You buy it. Amgen is plopping down $10.4 billion for Onyx Pharmaceuticals after trying to seal the deal for two-months. That all cash price tag makes this the fifth largest biotech deal on record. CEO Bob Bradway has been gobbling up companies and their products, with two of Amgen's revenue drivers now facing safety concerns and four of its five top-selling treatments facing patent expirations beginning in 2015.moreless
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