Bristol-Myers Squibb and AstraZeneca strengthens diabetes alliance

WorldPharmaNews reported that Bristol-Myers Squibb company announced today that they will acquire biopharmaceutical company Amylin Pharmaceuticals Inc.

Following BMS’s acquisition of Amylin, BMS and Astra Zeneca will enter into collaboration arrangements, based on the framework of the existing diabetes alliance, regarding the development and commercialisation of Amylin’s portfolio of products.

AstraZeneca will make a payment to Amylin, as a wholly owned subsidiary of Bristol-Myers Squibb, in the amount of approximately $3.4 billion in cash. Profits and losses arising from the collaboration will be shared equally.

Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb said “The acquisition of Amylin by Bristol-Myers Squibb is also a unique way for Bristol-Myers Squibb and AstraZeneca to expand the alliance between the two companies, and it demonstrates Bristol-Myers Squibb’s innovative and targeted approach to partnerships and business development.

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