The bidding for Amylin Pharmaceuticals (NASDAQ: AMLN) seems to be heating up. The Telegraph reported during the weekend, that AstraZeneca (LSE: AZN, OMX: AZN) had apparently made a takeover bid valuing the company over 4 billion USD, following a rejected offer of 3.5 billion from Bristol Myers Squibb. Bloomberg now writes that several companies are still in the running, with AstraZeneca likely the most desperate of those.
Investors Carl Icahn has been pressing Amylin to complete a deal, something to which it was initially averse to. A second round of bidding is believed to follow soon, with a decision in place perhaps next month. Cowen & Co analyst Phil Nadeau told Bloomberg, that Amylin may generate up to 1.5 billion USD in annual sales from Diabetes treatments Byetta and Bydureon that compate with drugs from Novo Nordisk (OMX: NOVO B)
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