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Amylin on lookout for buyers after rejecting bid from big pharma BMS

Posted on 24 April 2012

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Amylin Pharmaceuticals, the maker of the diabetes drugs Bydureon and Byetta, is seeking a buyer after rejecting an unsolicited bid from big pharma Bristol-Myers Squibb, two people with knowledge of the matter said.

Amylin has hired Credit Suisse Group AG and Goldman Sachs Group Inc. to help solicit possible offers, said one of the people, who asked not to be identified because the talks are private.

A number of drugmakers are considering whether to acquire San Diego-based Amylin to gain access to its diabetes franchise, according to another person familiar with the talks. Amylin began reaching out to potential buyers last week, one of the people said.

Read the full story at Bloomberg (link no longer available)



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