Bristol-Myers to buy Amylin for about $5.3 billion

NEW YORK (Reuters) - Bristol-Myers Squibb Co will buy biotechnology company Amylin Pharmaceuticals Inc for about $5.3 billion (3.37 billion pounds) in cash, helping Bristol-Myers extend its portfolio of diabetes treatments with the addition of drugs Byetta and Bydureon. Bristol-Myers said late on Friday it had also reached a follow-on deal with UK-based AstraZeneca Plc to collaborate on developing Amylin's products once the buyout is completed, expanding upon an existing partnership between the two pharmaceutical makers in diabetes treatments. AstraZeneca will pay $3.4 billion (2. ...

Source: http://uk.news.yahoo.com/bristol-myers-squibb-buy-amylin-5-3-billion-023145879--finance.html

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