Genesis 2013: Secrets of B-MS and AstraZeneca Amylin deal revealed
Secrets of how Bristol-Myers Squibb and AstraZeneca arranged a behind-the-scenes deal to buy Amylin were revealed at the Genesis 2013 conference in London on Thursday.
US biotech firm Amylin (Nasdaq: AMLN) was bought by US drug major Bristol-Myers Squibb (NYSE: MBY) for $31 per share in July last year. The pharma world was surprised when Anglo-Swedish drug major AstraZeneca (LSE: AZN) announced at the same time that the companies had agreed a collaboration regarding the development and commercialization of Amylin’s portfolio of products for a cost of around $3.4 billion. Shaun Grady, AstraZeneca’s vice president of strategic partnering and business development, told delegates how the deal took place.
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