Bristol Myers Squibb agreed to pay around $2.5 billion in cash to buy Inhibitex Inc. in attempt to compete with Gilead/Pharmasset to produce Hepatitis C drugs. The settlement will be finished in 2 months for its Inhibitex's shareholders acceptance of 126 percent premium price of its price over the previous 20 trading days ended on January 6. On June 29, Bristol-Myers Squibb extended its portfolio of diabetes treatments when it agreed to buy Amylin Pharmaceuticals for around in cash and pay to Eli Lilly to cover Amylin's debt and its outstanding collaboration-related obligations. AstraZeneca, who already collaborated on several diabetes treatments with Bristol-Myers Squibb, agreed to pay in cash for the right to continue development of Amylin's products. Two years later, in 2014, the company divested Amylin to AstraZeneca.