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Onyx Pharmaceuticals Inc

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BUSINESS
July 1, 2013 | By E. Scott Reckard
The prospect of a bidding war for Onyx Pharmaceuticals Inc. in South San Francisco is sending biotechnology shares sharply higher, helping propel an advance in the broader stock market. Onyx, a developer of anti-cancer drugs, said Sunday it had rejected a “significantly undervalued” takeover bid of $120 a share from Amgen Inc., the Thousand Oaks biotech giant. But it added that it was “actively exploring” the possibility of selling itself to another bidder. That was all investors needed to hear, sending Onyx shares soaring by $43.74, a gain of more than 50%, in midday trading Monday.
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BUSINESS
July 1, 2013 | By E. Scott Reckard
The prospect of a bidding war for Onyx Pharmaceuticals Inc. in South San Francisco is sending biotechnology shares sharply higher, helping propel an advance in the broader stock market. Onyx, a developer of anti-cancer drugs, said Sunday it had rejected a “significantly undervalued” takeover bid of $120 a share from Amgen Inc., the Thousand Oaks biotech giant. But it added that it was “actively exploring” the possibility of selling itself to another bidder. That was all investors needed to hear, sending Onyx shares soaring by $43.74, a gain of more than 50%, in midday trading Monday.
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BUSINESS
June 30, 2013 | By Richard Verrier
Onyx Pharmaceuticals Inc. on Sunday rejected an unsolicited takeover bid from Amgen Inc., the Thousand Oaks biotech giant. Onyx, headquartered in South San Francisco, confirmed in a statement that it had received a bid of $120 a share from Amgen, but said the offer “significantly undervalued” the company and was “not in the best interest of Onyx or its shareholders. " But Onyx added that it would consider other possible bids. “We are actively exploring the potential to combine Onyx with another company,” Onyx Chief Executive N. Anthony Coles said in the statement.
BUSINESS
February 13, 2007 | From Bloomberg News
Onyx Pharmaceuticals Inc.'s shares almost doubled Monday after the company said its only drug, Nexavar, helped patients with liver cancer stay alive longer. Nexavar is already approved for kidney tumors. The drug worked so well in trials with liver cancer patients that Onyx and its marketing partner, Bayer, will seek clearance from U.S. and European regulators as soon as possible to sell Nexavar for the added use, Onyx Chief Medical Officer Henry Fuchs said in a conference call.
BUSINESS
May 16, 2005 | Denise Gellene, Times Staff Writer
The first thing you notice after entering Catherine J. Mackey's roomy corner office at Pfizer Inc.'s sprawling research labs in La Jolla is the Ouija board set out on a table. Mackey jokes she uses the game to divine which of the many molecules from the labs is likeliest to become a successful drug. Picking a winner is one of the toughest jobs in the pharmaceutical business, but Mackey, the La Jolla research chief, is close to delivering Pfizer's first biotechnology drug for cancer.
HEALTH
June 11, 2007 | Thomas H. Maugh II
By the time Brenda Oathout had finished chemotherapy for her breast cancer, the Caledonia, N.Y., woman noticed a distinct change in her ability to think. "Everything was a struggle. I couldn't remember things," she said. "Forgetfulness is not a strong enough word. My thought process was clouded. The more you struggle to think and remember, the more fatigued you become. By 3 o'clock, I was exhausted, overwhelmed with life."
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