BRISTOL-MYERS SQUIBB AND ASTRAZENECA EXPAND DIABETES ALLIANCE THROUGH BRISTOL-MYERS SQUIBB’S ACQUISITION OF AMYLIN PHARMACEUTICALS

Strengthens leadership position of successful alliance in growing area of high
unmet
medical need
Complements current portfolio creating a more comprehensive disease management
platform with the addition of novel GLP-1 franchise

Adds approved and marketed products for type 2 diabetes, including BYETTAÒ
and BYDUREONÒ
July 2, 2012

Note to editors: This press release was sent out by AZ global Media team on June
30

Bristol-Myers Squibb Company and Amylin Pharmaceuticals, Inc. announced today
that Bristol-Myers Squibb will acquire Amylin for $31.00 per share in cash,
pursuant to a cash tender offer and second step merger, or an aggregate purchase
price of approximately $5.3 billion. The total value of the transaction,
including Amylin’s net debt and a contractual payment obligation to Eli Lilly
and Company, together totalling about $1.7 billion, is approximately $7 billion.
The acquisition has been unanimously approved by the boards of directors of
Bristol-Myers Squibb and Amylin. The board of directors of Amylin has
unanimously recommended that Amylin’s stockholders tender their shares to the
tender offer.

Bristol-Myers Squibb and AstraZeneca announced today that, following the
completion of Bristol-Myers Squibb’s acquisition of Amylin, the companies will
enter into collaboration arrangements, based on the framework of the existing
diabetes alliance, regarding the development and commercialisation of
Amylin’s portfolio of products. Following Bristol-Myers Squibb’s acquisition of
Amylin, AstraZeneca will make a payment to Amylin, as a wholly owned subsidiary
of Bristol-Myers Squibb, in the amount of approximately $3.4 billion in cash.
Profits and losses arising from the collaboration will be shared equally. In
addition, AstraZeneca has the option, exercisable at its sole discretion, to
establish equal governance rights over key strategic and financial decisions
regarding the collaboration, upon the payment to Bristol-Myers Squibb of an
additional $135 million. These collaboration arrangements have been approved by
the boards of directors of Bristol-Myers Squibb and AstraZeneca.

Amylin is a biopharmaceutical company dedicated to the discovery, development
and commercialisation of innovative medicines for patients with diabetes and
other metabolic diseases. Amylin’s primary focus is on the research, development
and commercialisation of a franchise of GLP-1 agonists for the treatment of type
2 diabetes.

“Amylin’s innovative diabetes portfolio, talented people and state-of-the-art
manufacturing facility complement our long-standing leadership in metabolics,”
said Lamberto Andreotti, Chief Executive Officer, Bristol-Myers Squibb. “We are
pleased to be able to strengthen the portfolio we have built to help patients
with diabetes by building on the success Amylin has

had with its GLP-1 franchise. The acquisition of Amylin by Bristol-Myers Squibb
is also a unique way for Bristol-Myers Squibb and AstraZeneca to expand the
alliance between the

two companies, and it demonstrates Bristol-Myers Squibb’s innovative and
targeted approach to partnerships and business development.”

Simon Lowth, Interim Chief Executive Officer of AstraZeneca, said: “This is a
compelling proposition that will have an immediate positive impact on revenues
and is fully in line with our stated partnering strategy to enhance top-line
growth and strengthen our late-stage pipeline. The broadening of our diabetes
collaboration with Bristol-Myers Squibb is another important step towards
creating a leadership position in the treatment of a disease with growing unmet
medical need that is reaching epidemic proportions in many areas of the world.
The combined development, regulatory and commercial strengths of the AstraZeneca
and Bristol-Myers Squibb alliance for diabetes provides an excellent platform to
unlock the potential of Amylin’s differentiated treatments for the benefit of
patients worldwide and for our shareholders.”

“We are pleased to announce this transaction that provides substantial value for
Amylin shareholders,” said Daniel M. Bradbury, President and Chief Executive
Officer of Amylin. “Over the last several months, our Board of Directors, with
the assistance of our financial and legal advisors, has been actively engaged in
a robust and thorough strategic process designed to maximize the value of our
unique diabetes franchise. I strongly believe that we have accomplished that
objective. Our recent US launch of BYDUREON, the first ever once-weekly therapy
for patients with type 2 diabetes, solidified our position as a driving force in
the fight against this rising global epidemic. Importantly, this transaction
with Bristol-Myers Squibb and their alliance with AstraZeneca provide the means
to maximize the potential and impact of Amylin’s innovative diabetes therapies
and reach more patients around the world with treatment options to help manage
their disease. In addition, I would like to acknowledge and thank the dedicated
employees of Amylin whose tireless efforts are responsible for creating the
tremendous value that is being recognized today by two of the most respected
companies in the pharmaceutical industry.”

Amylin’s assets include:

  · A GLP-1 franchise, including two treatments for type 2 diabetes,
BYETTAÒ(exenatide) injection and BYDUREONÒ(exenatide extended-release for
injectable suspension/exenatide 2 mg powder and solvent for prolonged release
suspension for injection), approved for use in both the US and Europe, and a
life-cycle management pipeline, including delivery devices and formulation
improvements. The addition of the Amylin GLP-1 franchise complements Bristol
-Myers Squibb’s and AstraZeneca’s current diabetes portfolio creating a
comprehensive disease management platform;

  · Metreleptin, a leptin analog currently under review at the US Food and Drug
Administration (FDA) for the treatment of diabetes and/or hypertriglyceridema
(high levels of triglycerides in the bloodstream) in patients with rare forms of
inherited or acquired lipodystrophy;

  · SYMLINÒ(pramlintide acetate) injection, an amylin analog, approved by the
FDA for the treatment of type 1 and type 2 diabetes patients with inadequate
glycemic control on meal-time insulin; and

  · A state-of-the-art sterile production facility in Ohio.

Under the terms of the definitive merger agreement between Bristol-Myers Squibb
and Amylin, Bristol-Myers Squibb will commence a cash tender offer to purchase
all of the

outstanding shares of Amylin’s common stock for $31.00 per share. The closing of
the tender offer is subject to customary terms and conditions, including the
tender of a number of shares that constitutes at least a majority of Amylin’s
outstanding shares of common stock, on a fully diluted basis, and expiration or
termination of the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act. The agreement also provides for the parties to effect, subject
to customary conditions, a merger to be completed following the completion of
the tender offer which would result in all shares not tendered in the tender
offer being converted into the right to receive $31.00 per share in cash. The
merger agreement contains a provision under which Amylin has agreed not to
solicit any competing offers for the company. Bristol-Myers Squibb will finance
the acquisition from its existing cash resources and credit facilities.

The companies expect the tender offer to close approximately thirty days after
commencement of the tender offer.

AstraZeneca intends to finance its $3.4 billion share of the transaction from
existing cash resources and credit facilities. AstraZeneca reaffirms its
commitment to its progressive dividend policy. AstraZeneca has previously guided
that it intends to make share repurchases of up to $4.5 billion in 2012, subject
to market conditions and business needs.

Based on the anticipated timing of the close of the transaction, the transaction
will have no impact on AstraZeneca’s guidance range for Core earnings per share
in 2012, which, in line with normal practice for AstraZeneca, will be reviewed
in conjunction with the Second Quarter and Half Year Results Announcement on 26
July. This transaction will be dilutive to AstraZeneca’s Core and Reported EPS
in 2012 and 2013, with both measures becoming accretive from 2014. Meaningful
accretion is projected thereafter.

Advisers
Citi and Evercore are serving as financial advisers to Bristol-Myers Squibb in
connection with the acquisition and Kirkland & Ellis LLP is its legal adviser.
Bank of America Merrill Lynch is serving as financial adviser to AstraZeneca in
connection with the transactions and Davis Polk & Wardwell LLP and Covington &
Burling LLP are its legal advisers. Credit Suisse Securities (USA) LLC and
Goldman Sachs & Co. are serving as financial advisers to Amylin in connection
with the acquisition and Skadden, Arps, Slate, Meagher & Flom LLP is its legal
adviser.

NOTES TO EDITORS

About the Bristol-Myers Squibb and AstraZeneca Collaboration
Bristol-Myers Squibb and AstraZeneca entered into a collaboration in January
2007 to enable the companies to research, develop and commercialise select
investigational drugs for type 2 diabetes. The Bristol-Myers Squibb/AstraZeneca
diabetes collaboration is focused around ONGLYZAÒ(saxagliptin), part of the
innovative class of DPP-4 inhibitors, and dapagliflozin, an SGLT2 inhibitor, and
is dedicated to global patient care, improving patient outcomes and creating a
new vision for the treatment of diabetes. ONGLYZA has been submitted for
regulatory approval in 93 countries and is approved in 77 countries including

the US, Canada, Mexico, EU, India, Brazil and China. Dapagliflozin received a
positive opinion from the CHMP in Europe in April 2012.

About AstraZeneca
AstraZeneca is a global, innovation-driven biopharmaceutical business with a
primary focus on the discovery, development and commercialization of
prescription medicines for gastrointestinal, cardiovascular, neuroscience,
respiratory and inflammation, oncology and infectious disease. AstraZeneca
operates in over 100 countries and its innovative medicines are used by millions
of patients worldwide. For more information please visit: www.astrazeneca.se and
www.astrazeneca.com

About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to
discover, develop and deliver innovative medicines that help patients prevail
over serious diseases. For more information, please visit http://www.bms.com or
follow us on Twitter at http://twitter.com/bmsnews.

About Amylin Pharmaceuticals
Amylin Pharmaceuticals is a biopharmaceutical company dedicated to improving
lives of patients through the discovery, development and commercialisation of
innovative medicines. Amylin is committed to delivering novel therapies that
transform the way diabetes and other metabolic disorders are treated. For the 12
months to 31 December 2011, Amylin reported an operating loss of $491 million
and as at 31 March 2012, Amylin had gross assets of $2,007 million. Amylin is
headquartered in San Diego, Calif. and has a commercial manufacturing facility
in Ohio. More information about Amylin Pharmaceuticals is available at
www.amylin.com.

Media contacts
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