Bristol-Myers Squibb acquiring Amylin Pharmaceuticals for $5.3 billion

Amylin Pharmaceuticals makes the diabetes drugs Byetta, Bydureon and Symlin. Bristol-Myers Squibb will own those drugs through its acquisition of Amylin Pharmaceuticals for $5.3 billion. It's complicated because BMS is also going to get paid $3.4 billion by AstraZeneca to develop Amylin’s drug pipeline (because of an AstraZeneca partnership). Amylin ended a marketing partnership on Bydureon and Byetta with Eli Lilly & Co. back in November.