Onyx Pharmaceuticals CEO says multiple parties involved in takeover talks

Onyx Pharmaceuticals CEO N. Anthony Coles said the company is involved in talks with various companies about a possible takeover after announcing last month that it was seeking suitors. "The process is ongoing with multiple parties currently engaged in discussions," Coles noted, without providing further details.

Recent reports suggested that Amgen raised its bid to buy the company to $130 per share, or nearly $9.5 billion, after its earlier offer of $120 per share was rejected. Other drugmakers linked with Onyx include AstraZeneca, Pfizer and Novartis. Coles added that the outcome and timetable of the sale process was dependent on a review by Onyx's board of directors.

Onyx sells the cancer drug Nexavar (sorafenib) with partner Bayer, and also recently launched the multiple myeloma therapy Kyprolis (carfilzomib), which analysts predict could garner $3 billion in revenue by 2022. Sales of the two drugs recorded by Onyx reached $81.8 million and $61 million, respectively, in the second quarter.

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