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ONYX Pharmaceuticals, AŞ Message Board

  • bearofbleecker bearofbleecker Aug 26, 2013 11:57 AM Flag

    AMGN got this company for free.

    On June 28, the day before their offer for ONXX was announced, AMGN closed at 98.66. As of the moment, their market cap has risen by $13.23 billion ...$7.26 billion of that increase occurring today. This more than covers their $10.4 billion purchase price of ONXX. During that same period, the market cap of ONXX has risen a mere $2.7 billion. On the other hand, as one who is heavily invested in early stage biotechs - perhaps overinvested - this should encourage other large pharmas to pursue acquisitions.