Cancer pharmaceutical company Onyx Pharmaceuticals (ONXX.O) said on Sunday from a larger biotechnology company Amgen Inc. (AMGN.O) low reject about 10 billion takeover offer, but still is considering selling yourself.
Agate said, Amgen's cash offer of $ 120 per share, which represents the company's Friday closing price premium of approximately 38%, "significantly undervalued" and its prospects.
Deutsche Bank analyst Robin Karnauskas estimates, Onyx merger partners worth up to $ 148 per share. At $ 140 per share, the deal will increase Amgen's earnings starting in 2015, she said in a research report.
Agate in a statement, said it was "actively exploring" a merger partner, it has hired financial advisers Centerview Partners Contact potential buyers. San Francisco-based company that "expression of interest" from Amgen and other unnamed third parties.
Onyx spokesman declined to comment further statement. Amgen company did not respond to requests for comment.
Onyx has a market capitalization of 6.32 billion, $ 362 million in revenue in 2012, while Amgen Inc. is the world's largest biotechnology company, worth about $ 7.4 billion.
Agate sales Nexavar for the treatment of liver and kidney cancer, colon cancer drugs Stivarga cooperation with the German pharmaceutical company Bayer (BAYGn.DE). Last year, sales of the blood cells agate launched drugs Krypolis, which Karnauskas estimated to reach $ 3 billion in annual peak sales.
Amgen's always looking for new ways to improve its flagship anemia drugs Aranesp and Epogen, declined, because usage restrictions and security issues has been selling its product line.
CEO Bob ? Brad temperature, just over a year ago the Thousand Oaks, California company's helm, investors have been able to maintain a high dividend and share repurchase happy.
Amgen, said earlier this year that it was a major push into biosimilars - biotech drugs cheaper alternative versions - planned for launch in early 2017 6.
Amgen's first quarter sales weaker than expected revenue for the period rose 5% to $ 4.24 billion, which is Wall Street forecast 4.37 billion dollars.
Financial Post "reported on Friday quoted, sparking a steep jump in agate shares in after-hours trading.
Agate As of last Friday's close, the stock has risen 31 percent in the past 12 months. Amgen's shares increased by 35% compared to the same period last year.
ISI Group analyst Mark Schoenebaum wrote that if the transaction, Onyx's Kyprolis will fit into Amgen's cancer drug sales and marketing infrastructure and complement Amgen's cancer drug combinations.
Kyprolis, development has received at least two prior treatment of multiple myeloma patients, in July last year by the U.S. Food and Drug Administration approval.
Large pharmaceutical companies have increasingly been seeking to acquire smaller biotechnology companies to get new drugs can often command high prices because they face significant revenue losses due to expired patents anticancer drugs.
The need to promote the health care mergers and acquisitions volume in the first six months of 2013 to 93.6 billion, up 30.2% over the same period last year.
Recent transactions include the generic drug manufacturer Actavis company (ACT.N) of $ 850 million U.S. dollars acquisition of Chinese special and Human Genome Sciences' $ 3 billion sale to GlaxoSmithKline PLC (GSK. L).
 



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