AstraZeneca makes $4bn for US diabetes company

As reported Reuters, the UK pharmaceutical company, AstraZeneca has made a $4bn takeover bid for the US diabetes company, Amylin.

Other pharmaceutical companies that have shown interest in Amylin include Bristol Myers Squibb (who’s $3.5bn approach was rejected), Merck and the French pharmaceutical company, Sanofi.

AstraZeneca makes $4bn approach for US diabetes companyThe diabetes company has been considered to be an attractive investment due to the growing diabetes market (a result of rising levels of obesity). Other pharmaceutical companies that have shown interest in Amylin include Bristol Myers Squibb (who’s $3.5bn approach was rejected), Merck and the French pharmaceutical company, Sanofi.

Diabetes affects over 300 million people worldwide with patients at high risk of heart disease, stroke, kidney failure, blindness and limb loss. The biopharmaceutical company, Amylin makes diabetes drugs such as Byetta and Bydureon which are used in the treatment of type 1 and type 2 diabetes. The diabetes company are also currently seeking approval for their new pen delivery system which can be used as an alternative to current needle injections.

These are exciting times for AstraZeneca. The UK pharmaceutical company has recently collaborated with Amgen to develop pipeline products for inflammatory diseases. Not only that, but their new chairman, Leif Johansson who was appointed last Friday, is currently focusing on finding a permanent replacement for the pharma company’s CEO.

 

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