Seeking Alpha

AstraZeneca, Bristol confirm diabetes deal worth up to $4.1B

  • As flagged, AstraZeneca (AZN) has agreed to acquire Bristol-Myers Squibb's (BMY) holding in the companies' diabetes joint venture for an initial $2.7B and as much as $1.4B in additional payments.
  • The transaction will strengthen AstraZeneca's earnings potential at a time that it's being hit by patent expirations.
  • Bristol will receive funds that it can use to develop treatments in other fields, including cancer.
  • The JV's drugs include the oral therapies Onglyza, Kombiglyze and Forxiga, and the injectable medicines Bydureon and Byetta. (PR)
Comments (2)
  • chopchop0
    , contributor
    Comments (3130) | Send Message
     
    BMY Stock seems to like the news. Hopefully us shareholders will see some of that $$$
    19 Dec 2013, 07:04 AM Reply Like
  • mandatory66
    , contributor
    Comments (2) | Send Message
     
    BMY likes the news but the diabetes market is growing with our waistlines.AZN is on track with this move.
    19 Dec 2013, 01:45 PM Reply Like
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