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
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