Anglo-Swedish drugmaker AstraZeneca PLC will buy out Bristol-Myers Squibb Co.’s stake in their partnership to develop and sell diabetes drugs in a deal worth $4.1 billion — seizing an opportunity to serve the projected explosion of patients suffering from the disease.
The package announced Thursday includes $2.7 billion to buy Bristol-Myers’ 50 percent share, as well as up to $1.4 billion in regulatory, launch and sales related payments. Bristol-Myers will also receive royalty payments based on net sales through 2025. Payments of up to $225 million may also be made after the transfer of certain assets and royalty payments. Full story for BostonGlobe.com subscribers.