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).

http://www.european-biotechnology-news.com/news/news/2012-03/amylin-deal-az-steps-in.html

PoliticsSwitzerland

23.10.2014 Just one day before its planned initial listing, Swiss Molecular Partners has cancelled its IPO. The reason: "unfavourable market conditions".

PoliticsEU

23.10.2014 Jean-Claude Juncker can breathe a sigh of relief as MEPs voted “yes” by a large majority to his team of European Union Commissioners. Previous to the vote, Juncker had shifted the EMA back to the health commissioner in response to protests.

FinancingFrance

21.10.2014 Yet another European company is looking for money on the US stock exchange – French DBV Technologies SA is all set up for its secondary listing on NASDAQ. The French biotech company hopes to rake in US$98m for its peanut allergy patches.

FinancingDenmark

18.10.2014 After raising US$220.5m (€172m) with its IPO, fast Forward Pharma’s lucky streak hits an obstacle on the road to success with shares falling 17% on its first day of trading.

M&AUKItaly

17.10.2014 Abandoned at the altar: Abbvie has dropped plans to acquire UK’s Shire following new US tax rules. This puts a stop to one of the biggest pharma mergers planned this year.

FinancingUKBelgium

15.10.2014 Bicycle Therapeutics wins €25m backing by major pharma venture capitalists for the development of a new class of oncology drugs.

FinancingGermanySwitzerlandNetherlands

13.10.2014 Biotechnology IPOs are back in fashion – German Probiodrug AG wants to raise €32m with its IPO, whilst Swiss Molecular Partners AG hopes the launch of its IPO will gain a revenue of €145m.

BusinessIreland

10.10.2014 Actavis has announced plans to merge with American pharma company Durata - a move that will strengthen their infectious diseases portfolio.

RegulationEU

07.10.2014 In an unprecedented move, the European Medicines Agency has approved a system allowing the future analysis of clinical trial data.

FinanceNetherlandsEU

06.10.2014 Another fund from the Netherlands has raised €92m in its first close and will invest the money in companies developing innovative therapeutics, medical devices and diagnostics.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • VITA 344.32 EUR6.67%
  • MORPHOSYS74.44 EUR4.04%
  • STRATEC BIOMEDICAL39.84 EUR3.94%

FLOP

  • CYTOS0.16 CHF-5.88%
  • CO.DON2.75 EUR-3.17%
  • ADDEX3.30 CHF-2.94%

TOP

  • BIOFRONTERA2.90 EUR31.2%
  • VITA 344.32 EUR8.0%
  • BB BIOTECH157.70 EUR7.3%

FLOP

  • PAION2.24 EUR-30.0%
  • CYTOS0.16 CHF-27.3%
  • MAGFORCE5.90 EUR-17.5%

TOP

  • SANTHERA85.50 CHF2335.9%
  • CO.DON2.75 EUR192.6%
  • PAION2.24 EUR163.5%

FLOP

  • CYTOS0.16 CHF-95.8%
  • THERAMETRICS0.08 CHF-42.9%
  • 4SC0.97 EUR-42.6%

No liability assumed, Date: 23.10.2014