NEW YORK (

TheStreet

) --

Amgen

(AMGN) - Get Report

, the world's largest biotechnology company by sales, is nearing a $10.5 billion deal to buy

Onyx Pharamaceuticals

(ONXX)

, according to news reports.

An announcement of a deal

could be made as soon as Monday

,

The New York Times

reported Saturday, citing unidentified "people briefed on the matter."

But "

the talks could still fall apart

before getting to the finish line,"

The Wall Street Journal

reported Saturday, citing an unidentified person familiar with the matter.

If the deal -- said to be worth $125 a share for Onyx shareholders -- is completed,

Amgen would gain full rights to Kyprolis

, a new drug to treat multiple myeloma,

Reuters

reported. The drug could reach peak sales of more than $2 billion a year, the news agency said, citing analysts.

A spokesman for Amgen told

TheStreet.com

that his company had no comment. A similar response was received from a spokeswoman for Onyx.

This article was written by a staff member of TheStreet.