Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
Bristol-Myers Squibb will buy biotechnology company Amylin Pharmaceuticals for about $5.3bn in cash, helping to extend its portfolio of diabetes drugs, it was announced on Friday night.
Immediately after the buy-out is completed, AstraZeneca will pay about $3.4bn in cash towards the deal, which will effectively create a joint-venture in the diabetes market, analysts said.
The tie-up expands on an existing partnership between the two pharmaceutical companies in diabetes treatments, including Onglyza, and is designed at strengthening their position in a growing, multi-billion pound market.
The deal is valued at about $7bn, which includes Amylin's debt and a payment to research and development company Eli Lilly of about $1.7bn.
http://www.telegraph.co.uk/finance/....2bn-towards-joint-venture-diabetes-deal.html
Immediately after the buy-out is completed, AstraZeneca will pay about $3.4bn in cash towards the deal, which will effectively create a joint-venture in the diabetes market, analysts said.
The tie-up expands on an existing partnership between the two pharmaceutical companies in diabetes treatments, including Onglyza, and is designed at strengthening their position in a growing, multi-billion pound market.
The deal is valued at about $7bn, which includes Amylin's debt and a payment to research and development company Eli Lilly of about $1.7bn.
http://www.telegraph.co.uk/finance/....2bn-towards-joint-venture-diabetes-deal.html