Breaking up is supposed to be hard to do, but it happens often enough in
the diabetes space. After a disappointing run with multiple drugs and
rising FDA demands for new drugs, Bristol-Myers Squibb (NYSE: BMY ) and AstraZeneca (NYSE: AZN )
have reached an agreement to end their diabetes joint venture, with
AstraZeneca buying out Bristol-Myers' stake. Although there are ways in
which this deal can work out positively for AstraZeneca, competition
from the likes of Novo Nordisk (NYSE: NVO ) and Eli Lilly (NYSE: LLY ) makes this a risky move for AstraZeneca and likely a savvy deal for Bristol-Myers.
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Bristol Myers Squibb and AstraZeneca: A Big Break-Up in the Diabetes Space
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