This is a huge deal.
Bristol-Myers Squibb agreed late on Friday to buyAmylin Pharmaceuticals, the maker of a promising new diabetes drug, in a complicated deal that is valued at about $7 billion.
To help finance the transaction, Bristol-Myers is teaming up with AstraZeneca, which will pay about $3.4 billion in cash and will share in the profits from Amylin’s sales.
- Bristol-Myers and AstraZeneca in $7 Billion Deal for Amylin (dealbook.nytimes.com)
- Bristol-Myers Squibb to buy Amylin for about $5.3 billion (news.yahoo.com)
- Bristol-Myers Buys Amylin for $5.3B, Getting Diabetes Drugs (xconomy.com)
- Report: 5 biopharma companies prep final offers for Amylin (fiercebiotech.com)
- Why Bristol And Astra Teamed Up To Buy Amylin In Unique $7 Billion Deal (forbes.com)