NEW YORK, July 16 Onyx Pharmaceuticals Inc
is expected to receive first-round offers as soon as
this week after attracting takeover interest from a few
drugmakers including Amgen Inc, according to several
people familiar with the matter.
Amgen, whose preliminary offer of $120 per share was
rejected by Onyx's board in late June and led to an auction of
the company, is still keen to buy Onyx and appears to be the
more likely buyer, the people said this week.
Other pharmaceutical companies including Pfizer,
Bristol-Myers Squibb Co and Gilead Sciences Inc
have also been evaluating a deal, though it remains unclear if
those parties will ultimately proceed with offers, the people
While many big pharmaceutical and smaller biotech companies
signed confidentiality agreements to take an initial look, some
of the parties have already balked at Onyx's steep price tag and
decided against bidding for the cancer drugmaker, they added.
There is no specific date for initial bids, but interested
parties are expected to submit initial, non-binding offers over
the course of this week, they said, asking not to be named
because the matter is not public.
Representatives for Onyx and Pfizer declined to comment.
Bristol-Myers, Gilead and Amgen could not be immediately reached
for a comment.