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Amgen To Acquire Onyx Pharmaceuticals For $125 Per Share In Cash
Date:8/25/2013

nt with our strategy of advancing innovative medicines that address serious unmet medical needs.  We expect this acquisition will accelerate growth and enhance value for Amgen shareholders.

"Amgen has a unique opportunity to add value to Kyprolis, a product which is at an early and promising stage of its launch," Bradway continued.

Onyx holds global rights to Kyprolis, excluding Japan.  Kyprolis has an orphan drug designation in the U.S. with exclusivity until July 2019, and patents in the U.S. which extend until at least 2025.

Amgen will benefit from the global rights to Onyx's innovative oncology portfolio and pipeline.  Amgen intends to leverage its oncology capabilities and experience to support Onyx's clinical development programs and maximize Kyprolis' potential in the U.S. and the rest of the world.

The acquisition of Onyx also adds to Amgen's robust late-stage pipeline.  This pipeline includes nine innovative products for which registration-enabling data are anticipated by 2016.  Four of these are innovative, first-in class oncology products. Onyx's pipeline complements Amgen's growing oncology portfolio. 

In addition to accelerating Amgen's revenue growth, the acquisition of Onyx is expected to be accretive to Amgen's adjusted net income in 2015.

"After a careful and thorough evaluation process, our Board of Directors has determined that the all-cash transaction with Amgen maximizes value for our stockholders and expands the potential of our commercial medicines and clinical pipeline to reach more patients globally," said Dr. Tony Coles, chairman and chief executive officer of Onyx. 

Coles continued, "We are pleased to have reached this agreement with Amgen, a company that shares Onyx's vision for innovation on behalf of patients.  This transaction is an important affirmation of the meaningful value our employees have c
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SOURCE Amgen
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