News

Amylin deal: AZ steps in
Enlarge image

BusinessUKSweden

Amylin deal: AZ steps in

10.08.2012 - AstraZeneca made an initial payment of approximately US$3.2bn to include Amylin’s portfolio of diabetes candidates into the joint diabetes alliance.

Bristol-Myers Squibb (BMS) has completed its acquisition of Amylin Pharmaceuticals worth US$5.3bn in cash. After getting hold of 85% of common stock of the company for US$31 per share, BMS has exercised its right to snap up the remaining stock and finalise the merger. The company plans to delist and de-register Amylin common stock as promptly as practicable following the effective time of the merger.

This triggered an initial payment of approximately US$3.2bn by the British-Swedish pharma company AstraZeneca, which already has a major diabetes partnership with BMS. AstraZeneca previously agreed to pay US$3.4bn for 50% of the profits from Amylin’s drugs. Additionally, AstraZeneca has opted to pay a further US$135m to get an equal say in certain key strategic and financial decisions regarding Amylin’s portfolio. This decision had been widely expected. It will become only effective, if applicable anti-trust and competition approvals are received by AstraZeneca.

Amylin's products for the fast-growing type 2 diabetes market included among others Byetta (exenatide) and the longer-acting version Bydureon. The original alliance had been focused on the development of the DPP-4 inhibitor Onglyza (saxagliptin), Kombliglyze (saxagliptin and metformin HCL extended-release), and the SGLT2 inhibitor Forxiga (idapagliflozin).

BusinessSpainUKSweden

31.07.2014 Astrazeneca is buying the rights to Almirall’s respiratory drugs in a deal worth up to €1.56bn.

BusinessFranceGermanySwitzerlandUK

30.07.2014 Rumours have it that French Danone wants to sell its medical nutrition business to US drugmaker Hospira for US$5bn in yet another tax inversion deal.

RegulationUKEU

29.07.2014 The first vaccine for malaria may be within reach: The European Medicines Agency has accepted Glaxosmithkline’s malaria vaccine candidate RTS,S for regulatory review.

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • NOVACYT (F)4.97 EUR11.43%
  • PROSENSA (NL)10.24 USD5.89%
  • NEUROVIVE PHARMACEUTICAL AB (S)74.00 SEK5.71%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • STENTYS (F)7.26 EUR-12.32%

TOP

  • WILEX (D)2.70 EUR229.3%
  • NEUROVIVE PHARMACEUTICAL AB (S)74.00 SEK52.6%
  • Allergy Therapeutics (UK)20.00 GBP34.4%

FLOP

  • HYBRIGENICS (F)1.68 EUR-29.7%
  • GW PHARMACEUTICALS (UK)418.50 GBP-20.1%
  • PHARMING (NL)0.44 EUR-20.0%

TOP

  • SANTHERA (CH)59.90 CHF2836.3%
  • GW PHARMACEUTICALS (UK)418.50 GBP634.2%
  • PAION (D)2.50 EUR284.6%

FLOP

  • EVOCUTIS (UK)0.21 GBP-92.7%
  • CYTOS (CH)0.27 CHF-92.0%
  • THROMBOGENICS (B)9.16 EUR-70.3%

No liability assumed, Date: 31.07.2014