Related Content
- Combining Lilly and Amylin drug with insulin intake found to promote weight loss
- Sanofi successfully switches Allegra
- Adherence among chronic disease patients can lead to big savings
- Reports: Lilly may acquire other companies following Bydureon setback
- Novartis positions itself as eye care giant with Alcon merger
NEW YORK — Bristol-Myers Squibb has bought a majority stake in drug maker Amylin Pharmaceuticals, Bristol said Wednesday.
The New York-based drug maker said that 140.5 million shares of Amylin had been put up for sale at $31 per share, and that it now owned 85.55% of the San Diego-based company. Bristol said it planned to acquire the rest of Amylin's shares Wednesday as well.
Bristol announced its intention to buy Amylin for $5.3 billion in early July. The total value of the acquisition is about $7 billion, including $1.7 billion in Amylin's contractual payment and debt obligations.
Interested in this topic? Sign up for our weekly DSN Collaborative Care e-newsletter.
