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Amylin: EU Approves Diabetes Treatment Byetta With Basal Insulin

DOW JONES NEWSWIRES Amylin Pharmaceuticals Inc. (AMLN) and Eli Lilly & Co. (LLY) said the European Commission approved its type 2 diabetes treatment Byetta as an add-on therapy to basal insulin. The drug makers said Byetta with titrated basal insulin improves glycemic control after meals, and common side effects include nausea, diarrhea, dizziness and headache. Lilly and Amylin in November severed their nine-year-old partnership that was supposed to furnish a blockbuster treatment for diabetes but was instead plagued by disappointing sales, regulatory troubles and company disputes, The Wall Street Journal reported. Amylin agreed to pay $250 million to Lilly upfront and as much as $1.2 billion more from sales of a molecule called exenatide that lowers the blood sugar of diabetics. That molecule is in the drug Byetta. Amylin on Friday said it will assume responsibility for exenatide-product commercialization outside of the U.S. on a market-by-market basis by the end of 2013. During the transition period, Amylin will work with Lilly on plans for markets outside the U.S. Amylin and Lilly shares closed Thursday at $15.41 and $39.81, respectively. Both were inactive premarket. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Amylin Pharmaceuticals (AMLN)
DateTimeHeadline
08/09/201208:24:09AstraZeneca: Bristol-Myers Squibb Completes Purchase of Amylin
08/02/201212:30:06Bristol-Myers Executive Charged With Insider Trading
08/02/201212:17:26U.S. Charges Bristol-Myers Executive With Insider Trading
08/02/201211:07:11Bristol-Myers Pension Executive Robert Ramnarine Arrested for...
07/26/201210:24:24Evercore 2nd-Quarter Profit Climbs 19% On Higher Investment Banking...
07/25/201208:20:16Bristol-Myers Profit Falls 28%
07/25/201208:00:01Bristol-Myers 2nd-Quarter Profit Falls 28% on Drug-Patent Expirations
07/02/201211:53:36Bristol Sees Commercial Muscle Accelerating Sales of Bydureon
06/29/201223:36:26Bristol-Myers to Buy Amylin Pharmaceuticals for $5.3 Billion
06/10/201220:35:15Novo Nordisk's Victoza More Efficient Than Peers In New Study
06/09/201208:30:11Sanofi's Lantus Cuts Blood Sugar More Than Merck's Januvia in...
06/05/201209:10:47Amylin is Said To Draw First-Round Bids of Up to $29/Share -Bloomberg
04/25/201214:53:05Icahn: Suit Against Amylin Dropped After Talks With CEO
04/19/201213:53:31FDA Is Asked To Remove Novo Nordisk Diabetes Drug From Market
04/09/201213:08:09Icahn Files Lawsuit Against Amylin To Force Nomination Extension
03/28/201210:08:30Amylin Has Rejected $3.5 Billion Buyout Bid By Bristol-Myers...
03/23/201209:08:11Amylin: EU Approves Diabetes Treatment Byetta With Basal Insulin
01/30/201217:42:15US Stocks Edge Lower As Europe's Debt Flashpoints Weigh
01/30/201208:02:33US Stock Futures Lower On Renewed Worries Over Greece
01/27/201216:12:26FDA Approves Amylin's Bydureon Diabetes Drug After Delays

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