Monday, September 1, 2014
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Bristol-Myers Squibb completes tender offer of Amylin

Bristol-Myers Squibb said Wednesday it had completed its tender offer for Amylin Pharmaceuticals, Inc., which is expected to amount to a $7 billion acquisition.

Bristol-Myers Squibb completes tender offer of Amylin

Bristol-Myers Squibb said Wednesday it had completed its tender offer for Amylin Pharmaceuticals, Inc., which is expected to amount to a $7 billion acquisition.

Amylin becomes a subsidiary of BMS, which is based in Princeton.

After the deal closes, the next step in the two pronged deal is for AstraZeneca to spend $3.4 billion to join the Amylin subsidiary in developing and selling Amylin's diabetes drugs.

AstraZeneca, which is trying overcome patent expirations and other challenges, has operations in Wilmington and Newark, Del.

The stock purchase price for Amylin was $31 per share.

David Sell
About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

For Inquirer.com. Portions of this blog may also be found in the Inquirer's Sunday Health Section.

Reach David at dsell@phillynews.com.

David Sell
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