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Jun 30, 2012

Bristol-Myers to buy Amylin for about $5.3 billion

NEW YORK (Reuters) – Bristol-Myers Squibb Co will buy biotechnology company Amylin Pharmaceuticals Inc for about $5.3 billion in cash, helping Bristol-Myers extend its portfolio of diabetes treatments with the addition of drugs Byetta and Bydureon.

Bristol-Myers said late on Friday it had also reached a follow-on deal with UK-based AstraZeneca Plc to collaborate on developing Amylin’s products once the buyout is completed, expanding upon an existing partnership between the two pharmaceutical makers in diabetes treatments. AstraZeneca will pay $3.4 billion in cash for these rights.

Jun 29, 2012
Jun 29, 2012
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      "I oversee stories about health news in the United States, from the companies making the drugs to the scientists discovering new ways to treat patients. I've been with Reuters for over 10 years, first covering the Mideast conflict from Jerusalem and later writing about media and advertising in New York."
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