Who will be the Final Bidder for Onyx Pharmaceuticals Inc.?
The first-round bid for Onyx Pharmaceuticals Inc. will begin this week, as told by someone familiar with the matter.
From June 30, Onyx enlisted Centerview Partners to help find bidders.
Previously Onyx refused the offer from Amgen with $10 billion, $ 120 a share. Board members of Onyx thought the offer greatly underestimated its value and prospects.
In addition to Amgen, AstraZeneca Plc (AZN), Pfizer and Novartis are also interested in the Onyx bid. At the moment, Amgen expresses that it still plans to continue the bid.
According to analyst, the bid winner will obtain the profit of Onyx’s blood cancer drug—Kyprolis, as of 2019, its sales probably reach $ 2.4 billion. In 2012, the annual revenue of Onyx was $ 0.362 billion, and 80% of the sales came from liver and kidney cancer drug, Nexavar and stomach cancer drug, Stivarga.