Although Amgen is the world’s largest biotechnology company, they have not been in the anti-cancer drug market until now. Amgen, like other drug makers, is trying to refresh aging product lines through the acquisition.
1. What is the ranking of this takeover of biotechnology firms, in terms of historic purchases? What are examples of those that were larger than this?
2. What has been the share price history of Amgen and Onyx?
3. What are some of the current issues that Amgen is facing from a financial perspective?
Pollack, A. and M.J. De La Merced. (2013). Amgen to Buy Onyx for $10.4 Billion. The New York Times, August 25 (Retrievable online at http://dealbook.nytimes.com/2013/08/25/amgen-to-buy-onyx-pharmaceuticals-for-10-4-billion/)