{"id":10198,"date":"2012-07-02T11:29:34","date_gmt":"2012-07-02T15:29:34","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=10198"},"modified":"2012-07-02T11:29:34","modified_gmt":"2012-07-02T15:29:34","slug":"bristol-myers-squibb-buys-amylin-expands-astrazenca-deal","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=10198","title":{"rendered":"Bristol-Myers Squibb Buys Amylin, Expands AstraZenca Deal"},"content":{"rendered":"
\"Diabetes<\/a>
(National Institutes of Health)<\/figcaption><\/figure>\n

The pharmaceutical company Bristol-Myers Squibb<\/a> in Princeton, New Jersey will acquire diabetes drug maker Amylin Pharmaceuticals<\/a> in San Diego, California for $31.00 per share or $5.3 billion. Bristol-Myers Squibb will also expand its current collaboration with pharmaceutical maker AstraZeneca<\/a> in London developing diabetes drugs, using the assets acquired through Amylin.<\/p>\n

Amylin Pharmaceuticals is expected to continue as a subsidiary of Bristol Myers Squibb.\u00a0 The company is a developer of several drugs to treat diabetes, including glucagon-like peptide 1<\/a> (GLP-1) agonists Byetta and Bydureon for type 2 diabetes. These drugs, with the generic name exenatide<\/a>, stimulates the pancreas to secrete insulin when blood sugar levels are high. Exenatide also slows the emptying of the stomach and causes a decrease in appetite. Both drugs have been approved by the FDA — Byetta in 2005 and Bydureon in January 2012.<\/p>\n

Amylin has also developed Symlin (pramlintide acetate), approved by the FDA to treat type 1 and type 2 diabetes, for patients with inadequate glycemic control on meal-time insulin. Metreleptin, an analog of the human hormone leptin for the treatment of diabetes and inherited or acquired lipodystrophy — a rare condition characterized by loss of subcutaneous fat — is still under FDA review.<\/p>\n

AstraZeneca and Bristol Myers Squibb first began partnering<\/a> in 2007 to develop and commercialize two investigational drugs Onglyza (saxagliptin) and dapagliflozin, for the treatment of type 2 diabetes. The companies expect the GLP-1 agonists Byetta and Bydureon from the Amylin acquisition to complement this portfolio.<\/p>\n

Under the new deal, AstraZeneca will pay the Amylin subsidiary some $3.4 billion immediately, with profits and losses shared equally between the two companies. AstraZeneca will have the option later on for gaining more governance control over business decisions involving the collaboration.<\/p>\n

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