WASHINGTON, D.C.: The world’s top biotech firm, Amgen, has struck a deal to buy Onyx Pharmaceuticals for $10.4 billion, the two companies announced on Sunday (Monday in Manila), joining a trend toward consolidation in the drug making industry.

The deal to purchase cancer drug specialist Onyx was reached after months of negotiations. Thousand Oaks-based Amgen will acquire outstanding shares of Onyx for $125 a share in cash, the statement said.

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