Amylin (AMLN) Attracting a Host of Other Suitors, Shares Rise

May 15, 2012 8:35 AM EDT
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Shares of Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) are 5 percent higher early Tuesday following reports indicating Bristol-Myers Squibb (NYSE: BMY) is not the only company interested in the diabetes drugs maker.

Amylin has signed confidentiality agreements Pfizer Inc. (NYSE: PFE), AstraZeneca Plc (NYSE: AZN), Sanofi (NYSE: SNY) Merck & Co. (NYSE: MRK), Takeda Pharmaceutical Co., Roche Holding AG, in addition to Bristol-Myers, Bloomberg reported, citing people familiar with the matter.

First-round bids are due in the next two weeks, the report said.

In March, Amylin rejected a $22 per share bid from Bristol-Myers. Since, share have climbed to nearly $27 per share.

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