AstraZeneca Puts Up $4.1B To Take Over Diabetes Drug JV

Law360, New York (December 19, 2013, 4:22 PM EST) -- AstraZeneca PLC will pay up to $4.1 billion to take over rival Bristol-Myers Squibb's stake in a joint venture aimed at developing diabetes treatments, streamlining the business to better cash in on opportunities in emerging markets, AstraZeneca said Thursday.

Under the deal's terms, the pharmaceutical giant will fork over $2.7 billion up front plus another $1.4 billion in regulatory, startup and sales-related payments. The Anglo-Swiss buyer said it would pay certain royalties to New York-based Bristol-Myers until 2025. AstraZeneca did not give a financing breakdown, saying...
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