AstraZeneca and Bristol-Myers Squibb Extend Diabetes Alliance - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

AstraZeneca and Bristol-Myers Squibb Extend Diabetes Alliance


ePT--the Electronic Newsletter of Pharmaceutical Technology

AstraZeneca has paid approximately $3.2 billion to extend its diabetes alliance with Bristol-Myers Squibb (BMS), following BMS’s recently completed acquisition of Amylin Pharmaceuticals. The payment, made to Amylin, ensures that AstraZeneca will have an equal share in any profits arising from the diabetes alliance, which is focusing on various drugs from Amylin, AstraZeneca, and BMS.

According to a statement, the incoporation of Amylin’s glucagon-like peptide-1 (GLP-1) franchise of diabetes drugs will provide a broader platform of potential treatments for diabetes.

AstraZeneca also added that it intends to exercise its option to acquire additional governance rights over key strategic and financial decisions regarding Amylin’s product portfolio. Exercise of this option will entail AstraZeneca paying an additional $135 million to BMS. The collaboration arrangements have been approved by the boards of directors of both BMS and AstraZeneca.

AstraZeneca and BMS entered into a collaboration in 2007 to jointly research, develop, and commercialize potential treatments for Type II diabetes. The expansion of the agreement now covers the codevelopment and marketing of Amylin’s product portfolio, including Byetta (exenatide), Bydureon (exenatide extended-release and exenatide 2 mg powder and solvent for prolonged release), Symlin (pramlintide acetate), and investigational leptin analogue called metreleptin, which is currently under review by FDA.

BMS announced the completed acquisition on Aug. 9, 2012. The company was acquired for $31 per share or an aggregate pruchase price of around $5.3 billion.

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
What role should the US government play in the current Ebola outbreak?
Finance development of drugs to treat/prevent disease.
Oversee medical treatment of patients in the US.
Provide treatment for patients globally.
All of the above.
No government involvement in patient treatment or drug development.
Finance development of drugs to treat/prevent disease.
23%
Oversee medical treatment of patients in the US.
14%
Provide treatment for patients globally.
7%
All of the above.
47%
No government involvement in patient treatment or drug development.
9%
Jim Miller Outsourcing Outlook Jim MillerOutside Looking In
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerAdvances in Large-Scale Heterocyclic Synthesis
Jill Wechsler Regulatory Watch Jill Wechsler New Era for Generic Drugs
Sean Milmo European Regulatory WatchSean MilmoTackling Drug Shortages
New Congress to Tackle Health Reform, Biomedical Innovation, Tax Policy
Combination Products Challenge Biopharma Manufacturers
Seven Steps to Solving Tabletting and Tooling ProblemsStep 1: Clean
Legislators Urge Added Incentives for Ebola Drug Development
FDA Reorganization to Promote Drug Quality
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here