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.
