As chief executive of Amgen Inc, Robert Bradway showed his business acumen and talents in negotiation through the successful acquisition of Onyx Pharmaceuticals Inc. The purchase price was estimated at over USD10 billion.
Being a former banker, Bradway's shift into the biotech industry was met with some criticism. On the other hand, a source familiar with the sale said, "Because of his experience as an investment banker, he was able to avoid a lot of the mistakes that a lot of rookie CEOs make in acquisitions." The source added, "He was very disciplined and was willing to wait effectively two months for the process to play out." The successful deal potentially quieted down concerns regarding Bradway's background as a former investment banker.
The deal would provide a new revenue stream for Amgen, bolster its drug development pipeline, and place the biotech firm much more solidly into the oncology space. It would also reaffirm Amgen's position as the largest biotechnology company in the world.
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