LONDON--AstraZeneca PLC (AZN.LN) and Bristol-Myers Squibb said Thursday that following the successful completion of the acquisition of Amylin Pharmaceuticals by Bristol-Myers Squibb Co (BMY), AstraZeneca has made an initial payment of 3.2 billion dollars to Amylin Pharmaceuticals (AMLN). MAIN FACTS: -As previously disclosed, the payment is being made in connection with the expansion of the diabetes alliance between AstraZeneca and Bristol-Myers Squibb to incorporate the development and marketing of Amylin's portfolio of diabetes products, and profits and losses arising from the collaboration will be shared equally. -AstraZeneca has also informed Bristol-Myers Squibb of its intention to exercise its option to acquire certain additional governance rights over key strategic and financial decisions regarding Amylin's portfolio. -The rights to this option will become effective once the applicable anti-trust and competition approvals are received by AstraZeneca. Upon the exercise of the option an additional payment of $135 million will be made to Bristol-Myers Squibb. -Amylin Pharmaceuticals is now a wholly-owned subsidiary of Bristol-Myers Squibb. -AstraZeneca shares at 1150 GMT down 23.0 pence, or 0.8%, at GBP29.92, valuing the company at GBP37.66 billion. -Write to Razak Musah Baba at razak.baba@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires
