Amylin Reports
This afternoon Amylin (NASDAQ:AMLN) reported solid third quarter results. The company reported total revenue of $147 million for the quarter; these results included sales of $126.4 million for Byetta® and $12.4 for Symlin®. The company also increased their full year guidance for Byetta and Symlin sales from $475 million to over $500 million.
As expected during the Q&A portion of the call questions centered on the approval of Januvia and how their introduction into the market would affect future Byetta sales. Not surprisingly the analyst from Bear Sterns brought up the issue of pancreatitis. All in all really no surprises here.
Sales of Byetta continue to accelerate, no supply issues and a full pipeline of promising compounds. As Diabetic Investor reported earlier this week we don’t anticipate Januvia to have major impact on Byetta’s growth. The increase in guidance confirms our belief that the company expects international markets, which will come on line during the fourth quarter, to further drive Byetta sales.
Try as some might to cast a dark cloud over Amylin’s future, the sun is sure to shine brightly on Amylin.
David Kliff
Publisher
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dkliff@diabeticinvestor.com
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