AstraZeneca Closes Acquisition Of Bristol's Diabetes Alliance Assets In U.S.

(RTTNews) - AstraZeneca (AZN) (AZN.L) said Monday it has completed its acquisition of the entirety of Bristol-Myers Squibb's (BMY) interests in the companies' diabetes alliance.

The deal gives AstraZeneca ownership of the intellectual property and global rights for the development, manufacture and commercialization of the diabetes business, which in the U.S. includes ONGLYZA, FARXIGA, BYETTA, BYDUREON, among others.

On completion of the deal, AstraZeneca paid Bristol-Myers Squibb $2.7 billion for initial consideration. AstraZeneca has also agreed to pay up to $1.4 billion in regulatory, launch and sales payments, and various sales-related royalty payments up until 2025. In addition, AstraZeneca may make payments up to $225 million when certain assets are subsequently transferred.