|FT: Amgen in the hunt for a $10B biotech buyout|
|By John Carroll - FierceBiotech|
|Tuesday, 10 November 2015 02:57|
Amgen is jumping back into the M&A game. And it's looking for another Onyx-sized deal that can deliver a late-stage drug ready to be hustled across the finish line.
The Financial Times reported this morning that Amgen's ($AMGN) management team has been briefing investors about its plans to buy another biotech for about $10 billion. That's what the big biotech paid for Onyx, which netted the cancer drug Kyprolis, and it's in the same ballpark asCelgene's $7.2 billion deal for Receptos.
That Receptos buyout inspired a fresh surge for Celgene's share price, pushing analysts to join in the chorus for more such deals from a lengthy lineup of big biotechs. Gilead ($GILD) as well as Biogen ($BIIB) have been quietly encouraging about buyout speculation, while Pfizer ($PFE) recently stepped up with a new megamerger pitch for Allergan ($ACT).