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M&A news for Onyx, Alexion will keep Wall Street focused on biotech
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Onyx, Alexion add spice
Monday, July 15, 2013
Buysiders say a takeout of Onyx
Pharmaceuticals Inc. is inevitable even after the company rejected an
unsolicited bid from Amgen
Inc. late last month. They believe the final price could come at a
hefty premium relative to recent mega-deals as there are likely to be multiple
bidders interested in Onyx's profit-generating oncology portfolio.
With last week's reports that Roche
is now targeting Alexion
Pharmaceuticals Inc., some buysiders also think the M&A chatter can
only provide more legs for biotech's bull run on Wall Street (see BioCentury
This Week television, July 14).
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