Bristol-Myers in $7 Billion Deal for Amylin – NYTimes.com

Bristol-Myers in $7 Billion Deal for Amylin – NYTimes.com.

nader nazemi

Charles Bancroft, chief financial officer at Bristol-Myers Squibb.

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.

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