Amylin Pharmaceuticals Inc. (AMLN)

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Deutsche Bank Maintains a 'Buy' on Amylin Pharmaceuticals #AMLN#; Thinking Long-Term: Bydureon a Likely Blockbuster


September 24, 2010 8:06 AM EDT

Deutsche Bank maintains a 'Buy' on Amylin Pharmaceuticals (Nasdaq: AMLN), PT $27.

Deutsche analyst says, "Amylin is awaiting approval of its long-acting diabetes drug, Bydureon, which is a GLP-1 agonist. This class of drugs is used after oral therapy before insulin. Street controversy has focused not on IF Bydureon will be approved (Oct 22 is FDA PDUFA date), but how BIG peak sales will be. Our analysis suggests peak sales of Bydureon of $1.4B in '14 and $3B by '20 in the U.S. alone. We rate the stock a Buy because we believe Bydureon sales will be greater than street expectations."

"NY Times reported a potential sale of Amylin in ’09. We view Amylin as a possible acquisition candidate for a large pharma company with a diabetes sales force. Acquirer could extract significant SG&A and R&D synergies. Our M&A analysis indicates Lilly (NYSE: ELY) and Takeda make most sense with M&A value at $43-$44/share."

To see all the upgrades/downgrades on shares of AMLN, visit our Analyst Ratings page.

The 52-wk trading range is $11.01 - 24.21.