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)

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Comments (2)
  • chopchop0
    , contributor
    Comments (5271) | 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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