For the past couple of weeks, it looked as if Amgen (NASDAQ:AMGN) might actually walk away from a deal with Onyx Pharmaceuticals (UNKNOWN:UNKNOWN). 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).
David Williamson owns shares of Pfizer. Max Macaluso, Ph.D. owns shares of Celgene. The Motley Fool recommends Celgene. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.