For the past couple of weeks, it looked as if Amgen (AMGN 0.54%) 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 (CELG +0.00%).
It's official: Amgen is acquiring Onyx Pharmaceuticals.
About the Author
Max is the Technology, Biopharma & Health Care Bureau Chief at Fool.com. Prior to joining the Fool, he completed a PhD in chemistry at the University of Cambridge and an MBA at the College des Ingenieurs.
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