ADVFN - Advanced Financial Network.
HOME» NASDAQ » A » AMLN Stock Price » AMLN Stock News

Amylin Pharmaceuticals Share News

 Amylin Pharmaceuticals (mm) Stock Price
AMLN Stock Price
 Amylin Pharmaceuticals (mm) Stock Chart
AMLN Stock Chart
 Amylin Pharmaceuticals (mm) Stock News
AMLN Stock News
 Amylin Pharmaceuticals (mm) Company Information
AMLN Company Information
 Amylin Pharmaceuticals (mm) Stock Trades
AMLN Stock Trades

Bristol-Myers to Buy Amylin Pharmaceuticals for $5.3 Billion

Bristol-Myers Squibb Co. (BMY) will buy Amylin Pharmaceuticals (AMLN) for about $5.3 billion, or $31 a share, the companies announced Friday. The transaction was unanimously approved by both boards of directors, the companies said. Including a contractual payment obligation to Eli Lilly (LLY) and Amylin's net debt, the total value of the transaction is about $7 billion, the companies said. The deal gives Bristol-Myers a stake in the future of two diabetes drugs, Byetta and Bydureon. Once the deal is completed, Bristol-Myers and AstraZeneca (AZN.LN) will enter into a collaboration arrangement based on existing deals regarding the development of Amylin's diabetes drugs. AstraZeneca will pay $3.4 billion to Amylin, the companies said. "Amylin's innovative diabetes portfolio, talented people and state-of-the art manufacturing facility complement our long-standing leadership in metabolics," said Lamberto Andreotti, chief executive of Bristol-Myers. "We are pleased to be able to strengthen the portfolio we have built to help patients with diabetes by building on the success Amylin has had with its GLP-1 franchise. The acquisition of Amylin by Bristol-Myers Squibb is also a unique way for Bristol-Myers Squibb and AstraZeneca to expand the alliance between the two companies, and it demonstrates Bristol-Myers Squibb's innovative and targeted approach to partnerships and business development." Shares in Amylin Pharmaceuticals, of San Diego, closed up 0.6% on Friday at $28.20, near its 52-week high. The shares have more than doubled in value since the beginning of 2012. Bristol-Myer shares closed up 2.5% at $35.95. Dow Jones Newswires; 212-416-2800

Stock News for Amylin Pharmaceuticals (AMLN)
DateTimeHeadline
No Recent News Available

Amylin Pharmaceuticals and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad