BMS acquires diabetes player Amylin for $6.8bn
After months of speculation that that it was up for sale and being pursued by multiple Big Pharma companies, publicly traded diabetes drug developer Amylin Pharmaceuticals Inc. announced it will be acquired by Bristol-Myers Squibb Co. for $6.8bn, consisting of $5.1bn in equity (based on 164mm outstanding Amylin shares) plus $1.7bn in combined Amylin net debt and a contractual payment that Amylin owes to Eli Lilly & Co. The $31-per-share cash price represents a 99% premium to the ten-day average leading up to late March 2012 reports that BMS had made a takeover bid.
- Controlled Release
- Drug Delivery
- Large Molecule
- Full Acquisition
- Payment Includes Cash for Equity
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