Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Onyx Shares Climb on Optimism of Possible Sale of Company

Onyx Pharmaceuticals Said to Weigh Sale
Bottles and tablets of Onyx Pharmaceuticals' Nexavar kidney and liver cancer treatment. Source: Onyx Pharmaceuticals via Bloomberg

Onyx Pharmaceuticals Inc., the developer of the kidney-cancer treatment Nexavar, climbed 4.4 percent in New York trading on optimism the company may be sold.

Onyx rose $1.88 to $44.68 at the close. The shares of the South San Francisco, California-based drug developer surged 14 percent yesterday after two people with knowledge of the matter said the company is exploring options including a possible sale.

Potential buyers are studying Onyx’s business and its experimental carfilzomib cancer therapy, said one of the people who declined to be identified as the discussions are private. Onyx had a market value of about $2.4 billion as of Nov. 25 and is working with Centerview Partners LLP to review alternatives, said the people.

Onyx gave itself more strategic options last month when it settled a lawsuit with Bayer AG over the experimental cancer medicine regorafenib and amended its collaboration agreement for Nexavar, said Jim Birchenough, an analyst at Bank of Montreal. The Oct. 11 agreement relieves Onyx from any future development or commercialization costs for regorafenib.

The deal with Leverkusen, Germany-based Bayer includes a 20 percent royalty payment on future sales of regorafenib for Onyx, or its acquirer. The drug may generate $106 million by the end of 2014, according to analysts. Potential buyers of Onyx also retain 50-50 profit sharing rights to Nexavar, which may hit $518.2 million in sales this year, according to the average estimate of six analysts in a Bloomberg survey.

Onyx today said the U.S. Food and Drug Administration accepted a new drug application for carfilzomib for the potential treatment of patients with relapsed, refractory multiple myeloma.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.