Bristol-Myers Squibb has completed the previously announced sale of its global diabetes business to AstraZeneca. BMS received from AstraZeneca a payment of about $2.7 billion in connection with the closing, and will receive by mid-February, a $0.6 billion milestone payment from the recent US approval of Farxiga (dapagliflozin). BMS will also receive from AstraZeneca potential regulatory and sales-based milestone payments of up to $0.8 billion, and royalty payments based on net sales to 2025. In addition, AstraZeneca will make payments of up to $225 million if and when certain assets are subsequently transferred.
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