Deals Of The Week Wonders: Who Will Buy Onyx?
Oncology-focused pharmas and multiple myeloma players, as well as would-be MM competitors, top Wall Street’s list of possible Onyx buyers. A successful deal could aid the longstanding biotech rally that has retrenched in recent weeks.
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The California biotech has licensed intellectual property to Merck to help finance its own development efforts around immune-modulating drugs.
The fast-growing biotech is soliciting bids, after a rejected Amgen offer and additional third party interest. Wall Street is scrambling to determine how to value Onyx and who the bidders could be.