Goodwin Procter recently advised Onyx Pharmaceuticals, a maker of cancer fighting drugs, in its $10.4 billion sale to Amgen, the world’s largest biotech company. The transaction is amongst the largest ever in the biotech industry.
Under the terms of the deal, announced Sunday and widely reported in the media, Amgen will offer $125 a share in cash through a tender offer for Onyx’s shares. The transaction is expected to close at the beginning of the fourth quarter, subject to customary regulatory approvals.
The transaction 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 United States in July 2012.
The Goodwin Procter team was led by Stuart Cable and included partners Jim Matarese, Brad Bugdanowitz, Lynda Galligan, and Danielle Lauzon.
For additional information, please read the press release announcing the transaction. Media coverage of the transaction included articles in The New York Times, Wall Street Journal, and San Francisco Chronicle.