Onyx Pharma acquisition drives trend

Oncology deals keep coming. A week and a half after Sanofi-Aventis SA (NYSE:SNY) acquired the rights to sell an experimental cancer treatment developed by Merrimack Pharmaceuticals Inc. for up to $530 million, Onyx Pharmaceuticals Inc. (NASDAQ:ONXX) said it's buying cancer drug developer Proteolix Inc. in a deal that could be worth up to $851 million.