Onyx Pharmaceuticals Inc., which surged more than 50 percent after rejecting a bid from Amgen Inc., is betting that potential suitors from Bayer AG to Bristol-Myers Squibb Co. are willing to offer even more.
Sanofi-Aventis SA began an $18.5 billion hostile takeover offer for Genzyme Corp. after the U.S. biotechnology company spurned the bid as too low. Genzyme urged shareholders to take no immediate action.
Acorda Therapeutics Inc., maker of the drug Ampyra to improve walking in multiple sclerosis patients, rose to its highest value in more than two years after the company said a small study showed the medicine also helped people who have had strokes.
Amylin Pharmaceuticals Inc., the diabetes drugmaker that has put itself up for sale, received offers from Sanofi and Merck & Co. in an initial round of bidding, said three people familiar with the process.
Onyx Pharmaceuticals Inc.’s experimental drug carfilzomib shrank the tumors of one-third of study patients with multiple myeloma, a deadly blood cancer. The company’s shares surged the most in four months in New York trading.
Ariad Pharmaceuticals Inc. said its experimental leukemia drug ponatinib helped patients with a mutation resistant to other therapies in a study the company will use to seek approval from U.S. and European regulators.