Amylin Pharmaceuticals Inc. (AMLN)

[SeriousMoney]

Amylin Launches Study of Diabetes Drug
AP, Friday March 24, 10:03 am ET

Amylin Launches 30-Week Study of Long Acting, Extended-Release Version of Diabetes Drug Byetta



INDIANAPOLIS (AP) -- Amylin Pharmaceuticals Inc. said Friday it started a 30-week clinical study of a long-acting version of its Byetta diabetes drug.

The San Diego-based drugmaker is working with Eli Lilly & Co. and Alkermes Inc. on the study, which aims to see if using extended-release Byetta once a week is at least as effective as the already approved twice-daily treatment. Byetta initially received regulatory approval in April as an add-on treatment for Type 2 diabetes.

The three pharmaceutical firms, which have discussed the study with the Food and Drug Administration, intend to use the safety and effectiveness data as support for a new drug application.

Amylin shares rose 73 cents to $45.40 in morning trading on the Nasdaq, while Alkermes shares gained 33 cents to $24.39. Meanwhile, shares of Eli Lilly added 46 cents to $58.50 on the New York Stock Exchange.

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