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Amgen Seeking Lower Price for Onyx, Sources

Fri, 08/23/2013 - 9:54am
Katie Bell, FirstWordPharma

Citing people with knowledge of the matter, Bloomberg reported Thursday that Amgen is pushing to pay less than the $130 a share, or nearly $9.5 billion, it recently offered for Onyx Pharmaceuticals after failing to obtain requested clinical study results on multiple myeloma therapy Kyprolis (carfilzomib).

According to the source, Onyx refused to provide Amgen additional data from a study designed for European approval because that could disrupt the approval process for the drug and delay its release.

Amgen is considering its next move, the people noted, adding that it could see a rival bid from AstraZeneca, which is currently conducting due diligence. Last month, Onyx disclosed the sale process after rejecting an unsolicited offer from Amgen for $120 a share.

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