Amylin Pharmaceuticals Inc. (AMLN), which rejected a $3.5 billion unsolicited takeover offer from Bristol-Myers Squibb Co. (BMY) in late March, has reportedly hired advisers to seek a sale of the company, reports said Sunday.
Early this month, activist investor Carl Icahn had filed a lawsuit against the diabetes drug maker to put pressure on it to pursue a deal to sell the company. Icahn owns about 9 percent of Amylin's shares.
Reports sugest that Credit Suisse Group AG and Goldman Sachs Group Inc. have been hired by the maker of Bydureon and Byetta as financial advisers on a potential sale. The company is said to have begun approaching potential buyers last week.
Several drugmakers, including France's Sanofi (SNY), could be mulling an offer for Amylin. Sanofi, though is discussing a bid internally, is said to be hesitant because Byetta will directly compete with the French drugmaker's experimental treatment lixisenatide.
AMLN closed on Friday at $22.92, down $0.15 or 0.66 percent, on a volume of 3.42 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.