Onyx Pharmaceuticals, Inc. Set to Reap Big Gains

Published: Jun 26, 2012

Shareholders of Onyx Pharmaceuticals Inc., are likely to see a gain of 40 percent more after the company received support from a regulatory panel for its cancer treatment carfilzomib, Bloomberg reports.

Analysts estimate that with the new treatment, Onyx's (NASDAQ: ONXX) revenue will more than double by 2014, with sales of carfilzomib reaching up to $1.5 billion a year.

Those numbers have helped Onyx become an attractive takeover target for major pharmaceutical companies.

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