CA-based Amgen, which bought Onyx Pharmaceuticals in August 2013 for $10.4 billion, is shutting down the biopharmaceutical company's South San Francisco facility and plans to lay off about 300 people.
As reported by Xconomy, CEO Bob Bradway says the Onyx layoffs are part of a larger restructuring of Amgen’s oncology business. The oncology development and commercial activities will be moved to Amgen’s Thousand Oaks headquarters on the outskirts of Los Angeles.
Amgen will notify Onyx workers of their long-term status by late April. The layoffs will take place at the end of the year.
Read the Xconomy article