Onyx Pharmaceuticals Appoints Dr. Pablo Cagnoni as Executive Vice President, Global Research & Development and Technical Operations

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South San Francisco, CA. - Feb. 15, 2013

Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) today announced the appointment of Pablo J. Cagnoni, M.D., as Executive Vice President, Global Research & Development and Technical Operations, effective March 2013. In this role, Dr. Cagnoni will be responsible for managing the Research & Development organization as well as Technical Operations. He will report to N. Anthony Coles, M.D., Chairman and Chief Executive Officer of Onyx.

"Pablo's broad leadership and management skills, combined with his track record of developing some of the most successful cancer therapies- including Tarceva®, Afinitor® and Folotyn® − make him the ideal person to lead our efforts in the development of innovative oncology medicines," said Dr. Coles. "He brings world-class R&D leadership as Onyx delivers on its vision of becoming a leading global oncology company committed to bringing new therapies to patients living with cancer."

"Onyx has recently transformed from a single-product company into a company with three approved therapies, and has a pipeline that could potentially help even more patients, providing oncologists with new treatment options," said Dr. Cagnoni. "I look forward to joining the team and leading the continued development of Kyprolis® (carfilzomib) for Injection and Nexavar® (sorafenib), as well as the exciting earlier stage pipeline, all focused on some of the most difficult-to-treat cancers."

Before joining Onyx, Dr. Cagnoni was Senior Vice President and Global Head of Clinical Development of Novartis Oncology. He was responsible for all clinical development, clinical operations, clinical pharmacology and correlative sciences activities for the oncology development pipeline. He oversaw the U.S., European and Japanese regulatory submissions and approvals of Afinitor®, Tasigna®, Signifor®, Exjade®, Jakavi® and Glivec® in various indications. He was a member of the Portfolio Management Board and the Oncology Projects Board and was also accountable for ensuring timely and effective transition of compounds from early to full development.

Prior to joining Novartis in 2009, Dr. Cagnoni served as Senior Vice President and Chief Medical Officer at Allos Therapeutics, Inc. where he led the team that obtained accelerated approval of Folotyn® for the treatment of peripheral T-cell lymphoma. Dr. Cagnoni was previously Chief Medical Officer and Vice President of Clinical Research and Medical Affairs at OSI Pharmaceuticals, where he oversaw all translational and clinical development activities, including the submission and approval of Tarceva® for the treatment of pancreatic cancer. Before joining OSI Pharmaceuticals, he served as Vice President and Head of Clinical Development at Allos Therapeutics. Previous to his industry experience, Dr. Cagnoni was Assistant Professor of Medicine and Assistant Director Pharmacology Laboratory, University of Colorado Bone Marrow Transplant Program. Dr. Cagnoni earned his medical degree from University Buenos Aires School of Medicine and he completed his fellowship in Hematology and Oncology, in the Division of Hematology, Department of Medicine at Mount Sinai Medical Center, New York and a fellowship in Stem Cell Transplantation at the University of Colorado Health Sciences Center.

About Onyx Pharmaceuticals, Inc.

Based in South San Francisco, California, Onyx Pharmaceuticals, Inc. is a global biopharmaceutical company engaged in the development and commercialization of innovative therapies for improving the lives of people with cancer. The company is focused on developing novel medicines that target key molecular pathways. For more information about Onyx, visit the company's website at www.onyx.com.

Forward-Looking Statements

This news release contains "forward-looking statements" of Onyx within the meaning of the federal securities laws. These forward-looking statements include without limitation, statements regarding the progress and results of the clinical development, safety, regulatory processes, commercialization efforts or commercial potential of Kyprolis (carfilzomib), Nexavar (sorafenib), Stivarga (regorafenib), oprozomib, or PD-0332991. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including risks related to the development and commercialization of pharmaceutical products. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Reference should be made to Onyx's Annual Report on Form 10-K for the year ended December 31, 2011, filed with the Securities and Exchange Commission under the heading "Risk Factors" and Onyx's Quarterly Reports on Form 10-Q for a more detailed description of such factors. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release. Onyx undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.