NEW YORK (
, the world's largest biotechnology company by sales, is nearing a $10.5 billion deal to buy
, according to news reports.
An announcement of a deal
The New York Times
reported Saturday, citing unidentified "people briefed on the matter."
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,
, a new drug to treat multiple myeloma,
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
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.