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AUG 26, 2013 - Yahoo! News

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Onyx deal expected to give Amgen a big boost

By Susan Kelly (Reuters) - Investors reacted favorably on Monday to Amgen Inc's $10.4 billion purchase of Onyx Pharmaceuticals Inc, which gives the world's largest biotech company full rights to a blood cancer drug with multibillion-dollar sales potential. Amgen shares rose 9 percent in midday trade on news of the acquisition, the biggest biotech deal since Gilead Sciences Inc's $11 billion purchase of Pharmasset in 2012. The main prize in the acquisition is Onyx's blood cancer drug Kyprolis. ...

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