News Headlines Article

Amgen to lay off 300 at Onyx, close South San Francisco facility
Los Angeles Business Journal

Amgen Inc. will shed roughly 300 of 750 Onyx Pharmaceuticals employees and shutter the South San Francisco facility the giant biotech picked up in its $10 billion acquisition of Onyx less than 18 months ago. The move, following positive news last week on the signature drug of the Amgen-Onyx deal, is the proverbial shoe-drop that Bay Area biotech followers long expected as Thousand Oaks-based Amgen (NASDAQ: AMGN) undertakes another restructuring, this time of its cancer drug business.