Bristol-Myers Squibb Co is planning to buy biotechnology company Amylin Pharmaceuticals Inc for about $5.3 billion in cash,according to reports.
Bristol-Myers reportedly said that it had also reached a follow-on deal with UK-based AstraZeneca Plc to collaborate on developing Amylin's products once the buyout is completed.
AstraZeneca will pay $3.4 billion in cash for these rights, says report.