AstraZeneca: Bristol-Myers Squibb Completes Purchase of Amylin

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 [e-mail]

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