AstraZeneca completes buyout of Bristol-Myers Squibb’s diabetes assets

AstraZeneca has completed its buyout of Bristol-Myers Squibb's half of the companies' collaborative diabetes research alliance.

The deal gives AstraZeneca complete rights to the development, manufacture and commercialisation of various diabetes therapies, such as Onglyza, Kombiglyze XR, Komboglyze, Forxiga, Xigduo, Byetta, Bydureon, metreleptin and Symlin.

An initial total of $2.7 billion (1.65 billion pounds) has been paid to Bristol-Myers Squibb on completion of this acquisition, with up to $1.4 billion in regulatory, launch and sales payments – plus various sales-related royalties – owed between now and 2025.

The transaction includes rights to Bristol-Myers Squibb's global diabetes business that was part of its collaboration with AstraZeneca and the former Amylin manufacturing facility in Ohio, as well as the future purchase by AstraZeneca of Bristol-Myers Squibb's Indiana manufacturing site.

Pascal Soriot, chief executive officer of AstraZeneca, said: "Under a single leadership, we will maximise the potential of our innovative portfolio of non-insulin antidiabetic medicines, bringing fresh momentum to our growth ambitions for this franchise."