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Icahn: Suit Against Amylin Dropped After Talks With CEO

DOW JONES NEWSWIRES Activist Investor Carl Icahn said he has dropped a lawsuit against Amylin Pharmaceuticals Inc. (AMLN) that sought to extend the drug maker's board-nomination deadline after discussions with the company's chief executive, Daniel Bradbury. Icahn, in a statement, said he continues to believe that Amylin, which makes diabetes drugs Byetta and Bydureon, should be sold. Details of the discussion won't be publicly disclosed owing to a mutual agreement, according to Icahn's statement. A representative from Amylin wasn't immediately available for comment. Icahn, one of Amylin's biggest shareholders, had demanded that Amylin's board extend the window for shareholders to nominate new directors and make proposals at the upcoming annual meeting. Amylin at the time had responded in a statement that the lawsuit was "without merit." When Icahn filed the suit earlier this month, he had argued that Amylin is at a crossroads and its shareholders are entitled to nominate a new slate of directors committed to pursuing a sale of the company. He said he also had formally requested copies of Amylin's books and records so he could review details of the potential acquisition offer and the company's recent stock offering and issuance of options to executives. Icahn's actions came after Amylin reportedly rejected a takeover offer from Bristol-Myers Squibb Co. (BMY), a decision Icahn sharply criticized. Amylin shares were up 3.5% at $26.44 in recent trading. The stock has more than doubled this year. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@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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