Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News AstraZeneca to purchase Bristol-Myers Squibb’s diabetes business

AstraZeneca to purchase Bristol-Myers Squibb’s diabetes business

19th December 2013

AstraZeneca is to purchase the global diabetes business of Bristol-Myers Squibb, acquiring full rights to all assets pertaining to the diabetes research alliance between the two companies.

An initial consideration of $2.7 billion (1.65 billion pounds) will be paid by AstraZeneca to Bristol-Myers Squibb upon completion of the deal, with up to $1.4 billion in regulatory, launch and sales-related payments also included in the terms of the transaction.

This move will give AstraZeneca full intellectual property and global rights for the development, manufacture and commercialisation of drugs such as Onglyza, Kombiglyze XR, Komboglyze, Forxiga, Byetta, Bydureon, metreleptin and Symlin.

Around 4,100 Bristol-Myers Squibb employees dedicated to the diabetes business will eventually transition to AstraZeneca, while it will also become responsible for the manufacturing and supply chain of the full portfolio of diabetes products.

Pascal Soriot, chief executive officer of AstraZeneca, said: "Today's announcement reinforces AstraZeneca's long-term commitment to diabetes, a core strategic area for us and an important platform for returning AstraZeneca to growth."

The move comes as part of a new business strategy for Bristol-Myers Squibb that will see it focus on HIV, hepatitis B, heart failure, oncology, immunoscience and fibrotic diseases, while discontinuing broad-based discovery work in hepatitis C, diabetes and neuroscience.ADNFCR-8000103-ID-801674415-ADNFCR

We currently have 6 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.