Pharma BD Deal Intelligence

AstraZeneca PLC / Bristol-Myers Squibb diabetes alliance assets

2013 · Asset Purchase · $4.3B · Complete

CALLED IT — OFF BY 20
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The coverage arc

Dec 19, 2013 GEN (Genetic Engineering & Biotechnology News) Bullish

BMS pivot followed Onglyza's failure to show CV superiority in SAVOR-TIMI-53 and Farxiga's prior FDA delay; deal lets BMS 'move to a more simplified operating…

Feb 03, 2014 AstraZeneca Investor Relations Neutral

AstraZeneca completed the acquisition of BMS's share of the global diabetes alliance on February 1, 2014, taking sole IP and global rights to Onglyza,…

Mar 01, 2014 Nature Biotechnology Bullish

Citi's Andrew Baum described the transaction as 'win-win for both parties' — BMS could focus on high-cost low-volume immuno-oncology while AZ committed more…

Source summaries from our enrichment pipeline; follow links for originals.

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AstraZeneca acquired BMS's interests in the BMS-AZ diabetes alliance for $2.7B upfront plus up to $1.4B in regulatory/launch/sales milestones plus royalty payments through 2025 plus up to $225M asset-transfer payments.

Did it work? Outcome assessment

Strategic verdict
Achieved Stated Rationale
Financial impact
Accretive
Pipeline outcome
Mixed

Key facts

Related deals — scored

DealYearValueOutcome
AstraZeneca PLC / Bristol-Myers Squibb diabetes alliance assets (this deal)2013$4.3B68
AstraZeneca PLC / Daiichi Sankyo Company, Limited2019$6.9B100
AstraZeneca PLC / KuDOS Pharmaceuticals Limited2005$210M98
AstraZeneca PLC / Alexion Pharmaceuticals Inc.2020$39.0B86
AstraZeneca PLC / Acerta Pharma2015$4.0B86
AstraZeneca PLC / Amgen Inc.2020$2.3B84
AstraZeneca PLC / MedImmune Inc.2007$15.6B82

Compare all 7 side-by-side →

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