One down one to go
Yesterday after the market closed Amylin (NASDAQ:AMLN) announced the FDA approved Symlin for insulin using Type 1 and Type 2 diabetics. While Diabetic Investor sees Symlin as a marginal seller the approval does bode well for Amylin. As everyone knows the real gem in Amylin’s pipeline is Exenatide which is currently before the FDA awaiting its approval which is expected in late April. Given Symlin’s approval Diabetic Investor expects Exenatide will also receive approval, giving Amylin shareholders a nice boost.
With stock up nearly 10% in early trading Diabetic Investor sees further gains in Amylin’s future. The stock will receive another shot in the arm, sorry for the play on words, when Exenatide is approved but that won’t be the end of their run. At this years ADA conference in June the company is expected to release more data on the long acting version of Exenatide, Exenatide LAR. Diabetic Investor has no reason to believe that the data will be anything but positive based on data already available. Exenatide LAR has the potential to be a mega-blockbuster drug.
Finally, Amylin’s partner Lilly whose diabetes franchise desperately needs a new blockbuster product should eventually acquire the company. All in all it looks like Amylin shareholders are in for a very nice run.