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).

M&AUKIreland

08.07.2014 Abbvie is determined to bring home British rare disease specialist Shire in a merger worth £30.1bn (€37.9bn).

M&ASwitzerland

04.07.2014 Genentech, a member of Swiss Roche Group, is set to acquire US-biotech Seragon Pharmaceuticals Inc. With the move, Genentech will obtain the rights to investigational breast cancer treatments.

M&AFranceGermany

03.07.2014 Nicox S.A. is stretching beyond the European market: The French eye health specialist is set to acquire Aciex Therapeutics Inc., a US-based pharma company with several ophthalmic therapeutics nearing market maturity.

FinanceBelgium

01.07.2014 Belgian antibody specialist Ablynx has raised €41.7m through a private placement of new shares and plans on boosting their range of nanobodies in development.

BioeconomyBelgiumUK

30.06.2014 Building on a £1.2m financing round, Celtic Renewables partners with a Belgian pilot plant to bring its bio-fuel made from whisky production residue to an industrial scale.

ConventionEUUK

25.06.2014 Sun, celebrities and a scandal - the world’s largest biotech convention is getting off to an explosive start in San Diego, California.

InvestmentGermanyNetherlands

24.06.2014 Bayer Healthcare is getting back into gene therapy with a US$252m deal aimed at the development of a haemophilia A treatment.

InvestmentNetherlands

20.06.2014 Tomtom founder Pieter Geelen invests in Dutch biotech Ocello, the company behind a 3D mapping technology used for predicting drug behaviour in patients.

RegulatoryEU

17.06.2014 The member states of the European Union have agreed on a EU-wide directive for the authorisation process of genetically modified crops – with an opt-out for individual countries.

Events

All Events

Partner-Events

Vilnius (LT)

Life Sciences Baltics

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • ADDEX (CH)4.29 CHF18.51%
  • COSMO PHARMACEUTICALS (CH)179.10 CHF7.76%
  • NEUROVIVE PHARMACEUTICAL AB (S)55.75 SEK6.19%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • BAVARIAN NORDIC (D)15.82 EUR-8.02%

TOP

  • SANTHERA (CH)72.80 CHF137.5%
  • CELLECTIS (F)13.63 EUR103.4%
  • ADDEX (CH)4.29 CHF92.4%

FLOP

  • THROMBOGENICS (B)8.92 EUR-50.4%
  • MERCK KGAA (D)64.16 EUR-50.1%
  • VERONA PHARMA (UK)1.20 GBP-43.4%

TOP

  • SANTHERA (CH)72.80 CHF3576.8%
  • GW PHARMACEUTICALS (UK)444.50 GBP828.4%
  • IXICO (UK)55.50 GBP320.5%

FLOP

  • EVOCUTIS (UK)0.21 GBP-93.3%
  • CYTOS (CH)0.25 CHF-92.8%
  • THROMBOGENICS (B)8.92 EUR-72.4%

No liability assumed, Date: 09.07.2014