AstraZeneca has completed its acquisition of Bristol-Myers Squibb’s (BMS) diabetes business. The acquisition gives AstraZeneca ownership of the intellectual property and global rights for the development, manufacture, and commercialization of BMS’ diabetes business, which includes Onglyza (saxagliptin), Kombiglyze XR (saxagliptin and metformin HCl extended release), Komboglyze (saxagliptin and metformin HCl), dapagliflozin (marketed as Forxiga outside the US and Farxiga in the US), Xigduo (dapagliflozin and metformin HCl), Byetta (exenatide), Bydureon (exenatide extended-release for injectable suspension), metreleptin, and Symlin (pramlintide acetate).
AstraZeneca paid BSM $2.7 billion of initial consideration. AstraZeneca has also agreed to pay up to $1.4 billion in regulatory, launch, and sales payments, and various sales-related royalty payments up until 2025, $600 million of which relates to the approval of Farxiga in the US. In addition, AstraZeneca may make payments of up to $225 million when certain assets are subsequently transferred.