Victory for Victoza

FDA approval last week of the first long-acting GLP-1 analog to treat Type II diabetes - Victoza liraglutide from Novo Nordisk A/S (CSE:NVO; NYSE:NVO) - gave encouragement to investors in competitor Amylin Pharmaceuticals Inc. (NASDAQ:AMLN).

Victoza was approved late Monday, and on Tuesday investors drove Amylin up $1.56 to $19.01 and Alkermes Inc. (NASDAQ:ALKS) up $0.78 to $11.56. They are developing Amylin's exenatide once weekly GLP-1 analog product with Eli Lilly and Co. (NYSE:LLY)...