Bristol-Myers to buy Amylin for about $5.3 billion

<p>NEW YORK (Reuters) – Bristol-Myers Squibb Co will buy biotechnology association <span>Amylin Pharmaceuticals Inc</span> for about $5.3 billion in cash, assisting <span>Bristol-Myers</span> extend a portfolio of diabetes treatments with a further of drugs Byetta and Bydureon.</p>
<p> Bristol-Myers pronounced late on Friday it had also reached a follow-on understanding with UK-based <span>AstraZeneca Plc</span> to combine on building Amylin’s products once a buyout is completed, expanding on an existent partnership between a dual curative makers in diabetes treatments. <span>AstraZeneca</span> will compensate $3.4 billion in money for these rights.</p>
<p> Bristol-Myers and <span>AstraZeneca</span> already combine on several diabetes treatments including Onglyza, and aim to strengthen their position in a growing, multibillion-dollar market. More than 360 million people w...