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Pharmaceutical Business Review reports that Pfizer (NYSE:PFE) and Novartis (NYSE:NVR) are considering participating in the bidding process to acquire Onyx Pharmaceuticals, (NASDAQ:ONXX) a manufacturer of cancer medicines, following rejection of Amgen’s (NASDAQ:AMGN) $$8.7bn buyout proposal.
Pharmaceutical Business Review reports that Pfizer (NYSE:PFE) and Novartis (NYSE:NVR) are considering participating in the bidding process to acquire Onyx Pharmaceuticals, (NASDAQ:ONXX) a manufacturer of cancer medicines, following rejection of Amgen’s (NASDAQ:AMGN) $$8.7bn buyout proposal.
As quoted in the market news:
Sources familiar to the matter were quoted by Reuters saying that Onyx had again put up itself for sale based upon expressions of interest received from other third parties.
Most recently, South San Francisco-based Onyx with a market value of nearly $9.5bn rejected Amgen’s bid, criticizing that the offer underestimated its operations.