Bristol-Myers to buy Amylin for about $5.3 billion

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Bristol-Myers to buy Amylin for about $5.3 billion



(Reuters) - Bristol-Myers Squibb Co has agreed to buy biotechnology company Amylin Pharmaceuticals Inc for about $5.3 billion, or $31 per share, in cash, giving Bristol-Myers a stake in the future of diabetes drugs Byetta and Bydureon. Bristol-Myers said late on Friday it had also reached a follow-on deal with UK-based AstraZeneca Plc to collaborate on the development of Amylin's products once the buyout is completed. AstraZeneca will pay $3.4 billion in cash for these rights. The boards of directors at Amylin, Bristol and AstraZeneca have approved the two transactions, the companies said. ...






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