安进与Onyx制药达成104亿美元收购协议

2013年8月26日讯 安进（Amgen）8月25日与Onyx制药达成了104亿美元收购协议，结束了长达2个月之久的竞拍。安进称，将支付每股125美元全现金收购Onyx制药，比6月份主动提出的120美元收购要约高4.2%。

该笔交易预计将在2013年第四季度完成。上周五，Onyx制药股价收于每股116.96美元，而在报道称安进出价120美元收购消息之前的6月28日，Onyx制药股价仅为每股85.5美元。

该笔交易是史上第五大生物技术交易，同时也是自2001年出价160亿美元收购Immunex公司之后，安进达成的最大收购交易。收购Immunex公司，使安进获得了类风湿性关节炎药物Enbrel，目前该药是安进最畅销的产品之一。

收购Onyx制药，使安进获得了多发性骨髓瘤药物Kyprolis的全部权利，分析师预计，该药的年销售峰值将超过20亿美元。

同时安进也将获得Onyx制药与拜耳（Bayer）联合销售的肝癌和肾癌药物多吉美（Nexavar）的销售收入、来自拜耳支付新结肠癌药物Stivarga的特许权使用费、以及来自辉瑞（Pfizer）在一种实验性乳腺癌药物临床开发的未来潜在特许权使用费。

由于面临着专利悬崖所致的重大收入损失，目前，大型制药公司正在积极地寻求收购小型生物技术公司，来获得新的药物充实研发管线。

目前，安进的药物开发管线同样面临着越来越多的压力，药物安全性问题已经影响到了其旗舰贫血药物Aranesp和Epogen的销售。同时，从2015年开始，其5个最畅销药物药物，有4个将面临专利到期。

业界最近完成的大型交易包括，仿制药生产商阿特维斯（Actavis）耗资85亿美元收购Warner Chilcott，葛兰素史克（GSK）耗资30亿美元收购人类基因组科学公司（HGS）。

英文原文：Amgen Strikes $10.4 Billion Deal for Onyx

Amgen Inc. AMGN -0.65% reached a deal Sunday to buy fellow biotech Onyx Pharmaceuticals Inc. ONXX -0.54% for roughly $10.4 billion, the latest proposed takeover aimed at tapping into growth expected from the cancer-drug industry.

The all-cash takeover values Onyx at $125 a share. The price Amgen is paying is below what investors expected in the days after the possible deal surfaced in late June. Amgen had approached Onyx with an offer of $120 a share for the company, whose primary attraction is a blood-cancer drug called Kyprolis.

For weeks, Onyx shares—which had been trading at less than $90 before the approach was disclosed—changed hands for more than $130 each. But when it became apparent that the auction Onyx subsequently tried to run drew less interest than the company had hoped for, the share price sagged, closing Friday at $116.96. Still, at $125 a share, Onyx is selling for more than four times the price it traded at roughly five years ago.

The deal is expected to close at the beginning of the fourth quarter.

Amgen's agreement to buy Onyx is the latest deal aimed at snapping up a maker of cancer drugs and diving deeper into one of the industry's fastest-growing segments. Scientific advances have paved the way for developing new treatments to once intractable conditions, and drug makers have been able to charge high prices for the therapies that receive approval—$10,000 a month or more for some drugs.

In the most recent oncology deal, Johnson & Johnson agreed in June to buy privately held cancer drug developer Aragon Pharmaceuticals Inc.

Despite their promise, deals for cancer biotechs can flame out. To limit the risks, big drug makers have sought to buy firms with cancer drugs that are already approved and on sale.

The acquisition will give Amgen control of San Francisco-based Onyx's Kyprolis, a treatment for a blood cancer known as multiple myeloma that was approved in the U.S. last year. It notched $125 million in sales during the first half of this year, and is expected to have $1 billion in sales by 2015. The revenue will help Amgen cope with sales lost as some of its leading products start facing lower-priced competition, and before promising drugs can finish development.

Amgen is taking some risk betting that current testing of Kyprolis will demonstrate the drug deserves to win the wider approvals, however. The riskiness of the testing was a subject of dispute during acquisition talks, according to a person familiar with the discussions.

Aside from a small-selling colorectal cancer agent, Amgen's cancer portfolio consists mostly of treatments, like its top-selling Neupogen and Neulasta franchise, that help patients cope with the side effects of chemotherapy and other treatments. Last year, the Thousand Oaks, Calif., biotech had $17.3 billion in revenue.

Cancer has become an important market. Last year, the drugs accounted for $84 billion in world-wide sales, second only to central nervous system treatments, according to EvaluatePharma. Sales of cancer therapies are expected to grow faster than for drugs for all other conditions, at a compounded rate of 8% a year, and become the industry's top-selling category by 2018.

Big drug makers have taken notice, pivoting toward cancer treatments as heart drugs and other treatments that had driven their revenues lose patent protection. In one sign of the companies' hunger for new cancer products, about a quarter of industry deals greater than $100 million now involve cancer, more than any other disease, according to J.P. Morgan Chase & Co.

For Amgen, the additional revenue from the deal would come in handy as its aging blockbusters start facing lower-priced competition over the next few years. The company has been looking for sales to replace those to be lost amid competition for top-selling products like Neulasta, which treats the low white blood-cell counts caused by chemotherapy.

Yet the company's drug-development efforts have encountered setbacks. Last year, Amgen halted testing of a pancreatic cancer candidate because the compound wasn't showing a benefit. And Amgen is a few years away from finishing development of compounds, especially one to fight high cholesterol, that are thought to have the biggest commercial potential.