Amylin said to be attracting several Big Pharma suitors

US biotech firm Amylin Pharmaceuticals (Nasdaq: AMLN), which earlier this year rebuffed a $22 per share takeover offer from US drug major Bristol-Myers Squibb that led to blistering criticism from billionaire investor Carl Icahn (The Pharma Letter April 5), is now attracting acquisition interest from a number of leading pharmaceutical companies, according to Bloomberg, citing sources close to the discussions. Amylin’s shares gained 6.4% to $27.30 by close of trading yesterday.

Mr Icahn threatened legal action against Amylin, which he subsequently dropped, presumably on assurances that the company would look at selling itself, a move that the investor has promoted.

Bloomberg’s sources suggest that Pfizer, AstraZeneca and Sanofi have signed confidentiality agreements on the drugmaker’s sale process. Also, Merck & Co, Takeda Pharmaceutical, Roche and B-MS have signed agreements to get access to confidential financial and product information for Amylin, said the people, who declined to be identified as talks are private. First-round bids are due in the next two weeks, said two of the people.