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Onyx Pharmaceuticals CFO Says Company is Appealing as an Acquisition

Onyx Pharmaceuticals CFO Says Company is Appealing as an Acquisition

The chief financial officer of Onyx Pharmaceuticals Inc. told Bloomberg during a recent interview that the drugmaker is an attractive option for buyers due to potential regulatory approvals it may receive for new treatments this year.

The interview comes after Onyx was recently named the top biotechnology takeover target for 2012 in a survey conducted by ISI Group analyst Mark Schoenebaum, according to Bloomberg.

"We could have data or regulatory approval for three different products and as many as seven different indications," Fust told the news provider. "Those are very large populations of patients with significant unmet need, which is inherently attractive to other interested parties."

The pharmaceutical company has reportedly completed final studies on a drug for multiple myeloma and another for colorectal cancer, with other testing currently being undertaken as well, the news source said.

However, one recent late-stage study found Onyx' Nexavar drug was not as effective as an experimental drug from Aveo Pharmaceuticals in delaying tumor growth in patients with kidney cancer, TheStreet reported. 

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