Friday, February 10, 2012
As Onyx Pharmaceuticals Inc. preps for an expansion of its South San Francisco headquarters, one question naggingly persists in spite of the company’s success: Will it still be independent when it moves into the space?
Built around the liver and kidney cancer-fighting drug Nexavar and looking at the promise of two other anti-cancer agents, Onyx over the past year has consistently been the center of takeover rumors. That talk picked up late last year with the settlement of a lawsuit with Bayer AG and the continued progress of the two experimental cancer drugs.
For its part, the company has steadfastly played coy. It declined to comment on a November news report, for example, that it had hired Centerview Partners LLP to look at strategic alternatives.
Nonetheless, Onyx continues to move forward, with $600 million in cash, looking every bit like an independent company. It has leased 162,000-square-foot structure, on which BNBuilders Inc. soon will begin construction, next to Onyx’s East Grand Avenue headquarters. It initially will move into 90,000 square feet.
It also recently opened a European headquarters in Switzerland.