Why Ex-Onyx CEO And Big Pharma Are Taking On Brain Diseases

TONY COLES COULD have had any job he wanted in the drug industry. In five years at the helm of cancer drug developer Onyx Pharmaceuticals he increased its market cap eightfold by purchasing an experimental blood cancer drug for $800 million, developing it into a big seller and flipping the whole company to Amgen AMGN +0.14% for $10.4 billion in October 2013. He personally made $60 million on the deal. Biotech watchers expected him to start another cancer company or even command a drug giant like Merck or Pfizer PFE +1.81%.

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