>>>Amylin Pharmaceuticals Issues Statement Regarding U.S. District Court Order
SAN DIEGO, June 8, 2011 /PRNewswire/ -- Amylin Pharmaceuticals, Inc. [AMLN] ("Amylin" or "the Company") today issued the following statement regarding the decision of the United States District Court for the Southern District of California to deny its motion for a preliminary injunction to enjoin Eli Lilly and Company [LLY] ("Lilly") from engaging in anticompetitive activity and breaching its diabetes collaboration agreement with Amylin:
"We are disappointed by the Court's decision not to issue a preliminary injunction, which Amylin requested to prevent Lilly from proceeding with its plans to use the same sales force to sell both exenatide and Boehringer Ingelheim GmbH's competing drug, linagliptin. Amylin continues to believe that Lilly's conduct violates our diabetes collaboration agreements, is anti-competitive and limits patients' treatment options. It is important to note that the Court's decision did not make any findings on the merits of our claims, but merely declines to award injunctive relief, based on the conclusion that monetary damages would be sufficient. We intend to vigorously pursue the litigation to enforce our legal and contractual rights."
The complete order is being filed on Amylin's Current Report on Form 8-K with the Securities and Exchange Commission.
In 2002, Amylin entered an alliance with Lilly for the global development and commercialization of exenatide, a medicine indicated as a first line treatment for type 2 diabetes that is currently marketed as BYETTA(R) (exenatide) injection. Exenatide is also the active ingredient in BYDUREON(TM) (exenatide extended-release for injectable suspension), a once-weekly version currently under review by the FDA.
About BYETTA(R) (exenatide) injection
BYETTA was the first glucagon-like peptide-1 (GLP-1) receptor agonist to be approved by the FDA for the treatment of type 2 diabetes. BYETTA exhibits many of the same effects as the human incretin hormone GLP-1. GLP-1 improves blood sugar after food intake through multiple effects that work in concert on the stomach, liver, pancreas and brain.
BYETTA is an injectable prescription medicine that may improve blood sugar (glucose) control in adults with type 2 diabetes mellitus, when used with a diet and exercise program. BYETTA is not insulin and should not be taken instead of insulin. BYETTA is not currently recommended to be taken with insulin. BYETTA is not for people with type 1 diabetes or people with diabetic ketoacidosis. BYETTA has not been studied in people who have pancreatitis.
BYETTA provides sustained A1C control and low incidence of hypoglycemia when used alone or in combination with metformin or a thiazolidinedione, with potential weight loss (BYETTA is not a weight-loss product). BYETTA was approved in the U.S. in April 2005 and in Europe in November 2006 and has been used by more than 1.8 million patients since its introduction. See important safety information below. Additional information about BYETTA is available at http://www.byetta.com/.<<<<;
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