AstraZeneca PLC will buyout Bristol-Myers Squibb Co.’s interest in their diabetes alliance, including the drug assets, employees, and infrastructure. In a structured deal, AZ is paying $2.7 billion upfront, as well as $1.4 billion in regulatory and commercial milestones, and royalties up to 2025.
The deal, announced on Dec. 19, ends a seven-year diabetes alliance between the two big pharmas, which culminated in the 2012 co-purchase of Amylin Pharmaceuticals Inc. for $7 billion...