 Amylin Pharmaceuticals in the Doldrums, States Eastbourne CapitalEastbourne Capital, since August a 12.5-percent shareholder in Amylin Pharmaceuticals Inc, said it intends to hold discussions on ways to improve shareholder value, including the possible sale of the biotechnology company, maker of diabetes drug Byetta.
11-04-2008 |
09:40 hs.
Author: Cate Kirby
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Eastbourne Capital, through a Securities and Exchange Commission filing, stated it has under consideration requesting Amylin Pharmaceuticals be sold as a way of improving shareholder value. Eastbourne has a 12.5 percent stake since the end of August. The San Diego-based Amylin´s stock has fallen about 68 percent since mid-August, after the company´s flagship diabetes drug Byetta (marketed with Eli Lilly) was linked with six deaths from pancreatitis. And hanging in a vacuum is the company´s extended release candidate Byetta LAR (exenatide) (designed to be taken weekly instead of the standard twice daily injection) in Phase III trials, being jointly developed by Eli Lilly and Amylin. Data on late-October prescriptions show that demand for Byetta continues to fall to its lowest levels since early 2007. Sales of Byetta in the U.S. reached $ 370 million dollars in the first nine months of this year. Billionaire investor Carl Icahn also has stake in Amylin – he raised it to 7.33 percent in mid-September. Amylin did not reply to a request for comment.  The deaths due to pancreatitis are no greater than that in the diabetic population as a whole. You need to check your "facts". Read the papers from the last ADA convention about the wonderful results patients have had with Exenatide LAR. Exenatide LAR, the once weekly, long-acting form, will be a revolutionary change for those of us who must inject twice a day or more.
Published by: Robert Dahl | 11-04-2008 | 11:47
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