Bristol-Myers Squibb (BMS) completed its acquisition of Amylin Pharmaceuticals, triggering a $3.2 billion initial payment from AstraZeneca to Amylin, in relation to expansion of the BMS-AstraZeneca diabetes alliance to include Amylin’s portfolio of diabetes candidates.
AstraZeneca has told BMS it also intends to exercise its option to acquire specific additional governance rights of key strategic and financial decisions regarding the Amylin portfolio. AstraZeneca will pay BMS another $135 million, once the option has been exercised following antitrust and competition clearance.
Expansion of the BMS-AstraZeneca type 2 diabetes alliance, initially signed in January 2007, will cover the co-development and marketing of Amylin’s Byetta® (exenatide) and extended release exenatide drug Bydureon™ for treating type 2 diabetes, as well as the latter’s leptin analogue metreleptin, which is under FDA review for the treatment of lipodystrophy, and Symlin® (pramlintide acetate), an amylin analog approved in the U.S. for the treatment of type 1 and type 2 diabetic patients with inadequate glycemic control on mealtime insulin.
The original BMS-AstraZeneca alliance has been focused on the development of the DPP-4 inhibitor Onglyza® (saxagliptin), Kombliglyze® (saxagliptin and metformin HCL extended-release), and Forxiga® Idapagliflozin), an SGLT2 inhibitor. Onglyza is already approved in 77 countries including North America, the EU, India, Brazil, and China. Forxiga received a positive opinion from the European Commission’s CHMP in April.