Amylin endocrine news
In a letter included in an SEC filing on April 20, James Wilson, lead independent director of Amylin, asserted that Carl Icahn intends to try and sell the diabetes company to Eli Lilly and Co. (NYSE:LLY, Indianapolis, Ind.). Wilson said Amylin's board and management believe such a sale would "dramatically undervalue" the opportunity shareholders will have through the approval and launch of exenatide once weekly for Type II diabetes, which the biotech is co-developing with Lilly. An NDA submission is expected this quarter for the long-acting release formulation of synthetic exendin-4 that uses drug delivery technology from Alkermes Inc. (NASDAQ:ALKS, Cambridge, Mass.). Lilly and Amylin already market a twice daily injectable version of exenatide as Byetta. ...