Amgen Inc struck a deal to purchase Onyx Pharmaceuticals Inc for more than $10 billion on Sunday, ending a two- month-long auction for the cancer drug maker.Amgen said it will pay $125 per share for Onyx, a 4.2 percent increase from the $120 a share it offered in June. Onyx said that bid significantly undervalued the company and put itself up for sale.The acquisition represents the fifth-largest biotechnology deal in history and gives Amgen full rights to Kyprolis, the new multiple myeloma drug that analysts expect to reach annual peak sales in excess of $2 billion.Amgen will also gain a revenue stream from the liver and kidney cancer drug Nexavar that Onyx shares with Bayer AG , as well as royalty payments on Bayer's much newer colon cancer drug, Stivarga, and potential future royalties on an experimental breast cancer drug being developed by Pfizer Inc .
Amgen Inc. is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics. Shares of AMGN fell by 0.65% or $-0.69/share to $105.60. In the past year, the shares have traded as low as $80.60 and as high as $114.95. On average, 3248110 shares of AMGN exchange hands on a given day and today's volume is recorded at 1572216.
Onyx Pharmaceuticals, Inc. (Onyx) is a biopharmaceutical company. Shares of ONXX fell by 0.54% or $-0.63/share to $116.96. In the past year, the shares have traded as low as $68.12 and as high as $136.87. On average, 2289700 shares of ONXX exchange hands on a given day and today's volume is recorded at 1236300.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE traded higher by 0.64% or $0.18/share to $28.34. In the past year, the shares have traded as low as $23.55 and as high as $31.15. On average, 56547200 shares of PFE exchange hands on a given day and today's volume is recorded at 18507496.
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