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Amgen buying cancer drug maker Onyx for $10.4B
Modern Healthcare

Biotech drugmaker Amgen will buy cancer drug maker Onyx Pharmaceuticals for about $10.4 billion in cash in a deal that will add several cancer drugs to Amgen’s stable and add to its pipeline of new drugs.

Amgen Inc. said Sunday it will acquire Onyx for $125 per share, and it expects to complete the deal at the beginning of the fourth quarter. The companies value the deal at $9.7 billion excluding Onyx’s cash, and Amgen said it will use $8.1 billion in committed bank loans to finance the deal.

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