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

M&AIreland

19.11.2014 It’s not every day that a company is pushed into the top ten of its sector, but that day has come for Actavis. Christmas came early for the new pharma giant after completing a US$66bn (€53bn) takeover battle for the Botox manufacturer Allergan.

Drug DevelopmentGermany

18.11.2014 Merck KGaA and US rival Pfizer have signed a immuno-oncology alliance worth billions: Merck will share the development and commercialisation of its cancer antibody with its US partner – for €2.3bn.

FinanceFrance

14.11.2014 Cosily coinciding with World Diabetes Day on 14th November, French biopharma Les Laboratories Servier has struck a US$1bn deal with US pharma Intarcia Therapeutics for the exclusive rights to Intarcia’s unprecedented therapy for type 2 diabetes.

AwardsFranceGermanySweden

12.11.2014 Glitz and glamour are not words often used to describe science and mathematics. But once a year, celebrities from the science and showbiz world come together at the Breakthough Prizes, a glitzy television bash that honours scientists for their achievements. French life scientist Emmanuelle Charpentier was among this year’s winners.

ResearchEU

10.11.2014 EFPIA’s specialised group Vaccines Europe and the Innovative Medicines Initiative (IMI) have launched a €280m Call for proposals aimed to address the Ebola crisis.

Trade fairGermanyEU

07.11.2014 3,200 participants from 54 countries attended the 20th issue of BIO-Europe. The overall mood of the European biotech sector was modestly optimistic.

AcquisitionGermanyUKSweden

05.11.2014 German Definiens AG has a new owner: Astrazeneca’s biologics R&D arm Medimmune has taken over all the shares of the imaging specialist for US$150m.

AcquisitionSwedenDenmarkUK

04.11.2014 Galecto Biotech has entered an agreement with Bristol-Myers Squibb for the acquisition of the company and its lead drug, providing the Swedish company with the potential of reaching over US$400m.

FinancingSwedenNorway

31.10.2014 Another biotech is leaving the European market place in favour of a US IPO. Swedish Cortendo is now planning to go public in the US after raising €8.8m in bridge financing.

FinancingUK

29.10.2014 British VC fundraiser Advent Life Sciences has raised €184m with its second fund. The money will help seed and build life sciences companies in the UK, Europe and the US, the company said.

Events

All Events

Partner-Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • THERAMETRICS0.08 CHF14.29%
  • BIOFRONTERA2.52 EUR2.44%
  • SYNGENTA319.30 CHF2.34%

FLOP

  • SARTORIUS97.00 EUR-3.67%
  • CO.DON2.51 EUR-2.33%
  • EVOLVA1.28 CHF-2.29%

TOP

  • CYTOS0.28 CHF86.7%
  • EPIGENOMICS5.15 EUR50.6%
  • STRATEC BIOMEDICAL48.50 EUR29.3%

FLOP

  • BIOFRONTERA2.52 EUR-13.4%
  • CO.DON2.51 EUR-11.0%
  • ADDEX3.07 CHF-10.8%

TOP

  • SANTHERA91.30 CHF2585.3%
  • CO.DON2.51 EUR139.0%
  • BB BIOTECH181.25 EUR63.4%

FLOP

  • CYTOS0.28 CHF-91.8%
  • 4SC0.94 EUR-46.0%
  • MOLOGEN7.35 EUR-41.4%

No liability assumed, Date: 20.11.2014