Amylin Pharmaceuticals, Inc. (AMLN) Said to Draw First-Round Bids From Merck & Co., Inc. (MRK), Sanofi (France) (SAN.PA)  
5/29/2012 8:50:46 AM

Amylin Pharmaceuticals Inc. (AMLN) (AMLN), the diabetes drugmaker that has put itself up for sale, received offers from Sanofi (SAN) and Merck & Co. in an initial round of bidding, said three people familiar with the process. The companies made bids of at least $25 a share, said the people, who declined to be identified as the deliberations are private. That would value Amylin at more than $4 billion, based on its shares outstanding as of April 26. Offers were due yesterday for the San Diego-based company, whose medicines include Bydureon and Byetta, the people said.