For the past couple of weeks, it looked as if Amgen (NASDAQ: AMGN ) might actually walk away from a deal with Onyx Pharmaceuticals (NASDAQ: ONXX ) . Yesterday, however, put an end to the latest biotech buyout drama, after Amgen officially announced that it's acquiring Onyx for $125 a share. In the following video, a segment from The Motley Fool's health-care show Market Checkup, health-care analysts David Williamson and Max Macaluso discuss the rationale behind this acquisition, and how Amgen investors should also watch competition from biotech company Celgene (NASDAQ: CELG ) .
It's no secret that biotech stocks, like Amgen and Onyx, have been soaring recently, but let's face it -- the best long-term investment strategy is to pick great companies and stick with them. The Motley Fool's free report "3 Stocks That Will Help You Retire Rich" not only shares stocks that could help you build long-term wealth, but also winning strategies that every investor should know. Click here to grab your free copy today.