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A $10.4B acquisition that gave Amgen sole ownership of Kyprolis, deepening its oncology portfolio in blood cancer. The deal marked one of Amgen's largest-ever bolt-on acquisitions to expand beyond its legacy biologics base.
Amgen acquired Onyx Pharmaceuticals for $10.4B for cancer drug portfolio.
Kyprolis failed its Phase III Clarion trial, showing survival rates on par with generic Velcade rather than superiority — a major pipeline failure to the tune…
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Amgen acquired Onyx Pharmaceuticals for $10.4B for cancer drug portfolio.
30K US cases/yr · $8.0B Global Multiple Myeloma Market (2013) · $280M Kyprolis Revenue (2013, first full year)
Multiple myeloma treatment in 2013 centered on proteasome inhibitors and immunomodulators. Kyprolis (carfilzomib), a next-generation proteasome inhibitor, had just received accelerated FDA approval in July 2012 for relapsed/refractory MM after at least two prior therapies, positioning it as a successor to Velcade.
Kyprolis competed directly with Takeda/J&J's Velcade (bortezomib, $2.6B global sales) as a proteasome inhibitor, but with a differentiated irreversible binding mechanism and potentially better tolerability (less neuropathy). Celgene's Revlimid ($4.3B) dominated the IMiD class. The deal gave Amgen an immediate oncology revenue stream and a platform to expand in hematology, with Kyprolis eventually reaching $1.1B in peak sales.
Amgen Inc. completed its acquisition of Onyx Pharmaceuticals for $10.4B. Amgen acquired Onyx Pharmaceuticals for $10.4B for cancer drug portfolio.
EMA accepted Kyprolis for relapsed multiple myeloma. Regulatory step in Amgen Inc.'s acquisition process for Onyx Pharmaceuticals.
2024 revenue ~$1.5B (7% YoY). Steady but below $3B+ projections. Reflects financial performance following Amgen Inc.'s $10.4B acquisition of Onyx Pharmaceuticals.
$1.5B annual but fell short of $3B+ peak projections. Dubbed "$10B flop" by some.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Amgen Inc. / Onyx Pharmaceuticals (this deal) | 2013 | $10.4B | 67 |
| Amgen Inc. / Immunex Corporation | 2002 | $16.0B | 92 |
| Amgen Inc. / Immunex Corporation | 2001 | $16.0B | 91 |
| Amgen Inc. / Micromet Inc. | 2012 | $1.2B | 88 |
| Amgen Inc. / Five Prime Therapeutics | 2021 | $1.9B | 78 |
| Amgen Inc. / Horizon Therapeutics plc | 2022 | $27.8B | 72 |
| Amgen Inc. / Otezla (from Celgene/BMS) | 2019 | $13.4B | 68 |
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More: 2013 deals · Amgen Inc. deals · Oncology deals