Foot in door at Amylin

Activist investors appear to have gotten two hits in five tries in their proxy battle with Amylin Pharmaceuticals Inc. last week, but with only two seats on the company's 12-person board, the question is whether they will be able to win the war to change the company's direction.

Last week's shareholder meeting was the culmination of a four-month campaign by Carl Icahn and Eastbourne Capital Management. They have called on company management to reduce costs, improve sales of its Byetta exenatide diabetes drug, and restructure its exenatide partnership with Eli Lilly and Co...