us biotech giant amgen to buy rival onyx for 104bn
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

US biotech giant Amgen to buy rival Onyx for $10.4bn

Arab Today, arab today

Arab Today, arab today US biotech giant Amgen to buy rival Onyx for $10.4bn

Washington - AFP

The world's top biotech firm, Amgen, has struck a deal to buy Onyx Pharmaceuticals for $10.4 billion, the two companies announced, joining a trend toward consolidation in the drugmaking industry. The deal to purchase cancer drug specialist Onyx was reached after months of negotiations. Thousand Oaks-based Amgen will acquire outstanding shares of Onyx for $125 a share in cash, the statement, released on Sunday, said. That's an increase of $4 a share over Amgen's previous bid, rejected as insufficient by the San Francisco drugmaker in June. The deal will allow Amgen to get its hands on Kyprolis, a promising treatment for blood cancer developed by Onyx and approved by US authorities in 2012. In the statement, Amgen said it will use its "experience" and "capabilities" in cancer research to support Onyx's clinical development programs and exploit the potential of Kyprolis in the US and the rest of the world. "We believe that Amgen is ideally suited to realize the full potential of Onyx's portfolio and pipeline for the benefit of physicians and patients," said Amgen chief Robert Bradway. The transaction is expected to be finalized in the beginning of the fourth quarter, subject to US regulatory approval. Amgen, whose sales grew by five percent in the second quarter to $4.68 billion, said it will finance the acquisition by borrowing $8.1 billion and drawing on its cash reserves for the remaining $2.3 billion. The deal comes on the heels of several other large mergers that have swept the drug industry in recent months, particularly in North America, including major acquisitions by US firms Perrigo and Johnson & Johnson, as well as by Canada's Valeant.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us biotech giant amgen to buy rival onyx for 104bn us biotech giant amgen to buy rival onyx for 104bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us biotech giant amgen to buy rival onyx for 104bn us biotech giant amgen to buy rival onyx for 104bn

 



GMT 11:40 2018 Friday ,05 January

Zuckerberg makes 'fixing' Facebook a personal goal

GMT 01:05 2014 Thursday ,13 February

Flora

GMT 21:50 2017 Wednesday ,25 October

Abdullah bin Zayed visits WorldSkills Abu Dhabi 2017

GMT 16:33 2017 Tuesday ,04 July

Hany Ramzy happy for positive reactions

GMT 20:11 2018 Wednesday ,05 December

EU wants INF Treaty 'preserved and fully implemented'

GMT 21:01 2018 Sunday ,25 November

Oil prices plummet amid U.S. drilling rigs down

GMT 13:01 2016 Sunday ,28 August

China's Top 500 Firms Report First Revenue Decline

GMT 04:46 2014 Thursday ,11 December

Taliban suicide blast kills 6 Afghan soldiers in Kabul

GMT 11:10 2018 Wednesday ,17 January

MP Hariri welcomes Sho
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday