Science & Enterprise subscription

Follow us on Twitter

  • Voice telephone, who knew? ... Why the Phone Is Key to Getting Covid Shots in Arms
    about 40 mins ago
  • Israel is emerging as the world's leader in vaccinating its population, and seeing results in declines of new Covid…
    about 5 hours ago
  • New post on Science and Enterprise: Infographic – Israel Halts Covid-19 Spread with Vaccines #Science #Business
    about 5 hours ago
  • We wrote about this project last July. Read about it first on Science & Enterprise. ... Researchers Are Hatching a…
    about 8 hours ago
  • A biotechnology company using protein dynamics to develop precision cancer therapies is acquiring a drug discovery…
    about 24 hours ago

Please share Science & Enterprise

Bristol-Myers Squibb Buys Amylin, Expands AstraZenca Deal

Diabetes Test (NIH)

(National Institutes of Health)

The pharmaceutical company Bristol-Myers Squibb in Princeton, New Jersey will acquire diabetes drug maker Amylin Pharmaceuticals in San Diego, California for $31.00 per share or $5.3 billion. Bristol-Myers Squibb will also expand its current collaboration with pharmaceutical maker AstraZeneca in London developing diabetes drugs, using the assets acquired through Amylin.

Amylin Pharmaceuticals is expected to continue as a subsidiary of Bristol Myers Squibb.  The company is a developer of several drugs to treat diabetes, including glucagon-like peptide 1 (GLP-1) agonists Byetta and Bydureon for type 2 diabetes. These drugs, with the generic name exenatide, stimulates the pancreas to secrete insulin when blood sugar levels are high. Exenatide also slows the emptying of the stomach and causes a decrease in appetite. Both drugs have been approved by the FDA — Byetta in 2005 and Bydureon in January 2012.

Amylin has also developed Symlin (pramlintide acetate), approved by the FDA to treat type 1 and type 2 diabetes, for patients with inadequate glycemic control on meal-time insulin. Metreleptin, an analog of the human hormone leptin for the treatment of diabetes and inherited or acquired lipodystrophy — a rare condition characterized by loss of subcutaneous fat — is still under FDA review.

AstraZeneca and Bristol Myers Squibb first began partnering in 2007 to develop and commercialize two investigational drugs Onglyza (saxagliptin) and dapagliflozin, for the treatment of type 2 diabetes. The companies expect the GLP-1 agonists Byetta and Bydureon from the Amylin acquisition to complement this portfolio.

Under the new deal, AstraZeneca will pay the Amylin subsidiary some $3.4 billion immediately, with profits and losses shared equally between the two companies. AstraZeneca will have the option later on for gaining more governance control over business decisions involving the collaboration.

Read more:

*     *     *

1 comment to Bristol-Myers Squibb Buys Amylin, Expands AstraZenca Deal