12:00 AM
 | 
Dec 23, 2013
 |  BioCentury  |  Strategy

Diabetes take over

Math and rationale behind BMS's sale of diabetes business to partner AZ

Increased competition and heavy discounting required by commercial insurance plans have led Bristol-Myers Squibb Co. to off-load its entire late-stage and marketed diabetes portfolio to partner AstraZeneca plc.

On Dec. 19, the companies announced AZ would acquire full ownership of the programs, which include six marketed drugs. BMS will receive $2.7 billion up front and is eligible for up to $1.4 billion in milestones, plus royalties.

The nearest milestone would be a $600 million payment upon U.S. approval of dapagliflozin. Approval by the Jan. 11 PDUFA date seems likely after FDA's Endocrinologic and Metabolic Drugs Advisory Committee this...

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