12:00 AM
Oct 31, 2005
 |  BioCentury  |  Product Development

Byetta through dark glasses

In last week's third quarter earnings announcement, Amylin Pharmaceuticals Inc. reported sales for one of its two new diabetes drugs, Byetta exenatide, that did not measure up to analyst estimates. The company said the problem was that it was difficult to make an informed sales estimate based on the rough information available during the drug's first full period on the market.

AMLN expects Byetta's first-in-class mechanism and ongoing launch program will grow sales to match expectations. However, skeptical investors punished the stock: AMLN was off $4.12 (11%) to close at $33.87 on Thursday before dropping another $0.35 to close the week at $33.52.

After market on Wednesday, AMLN (San Diego, Calif.) reported $18.1 million in...

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