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Biotech / Medical : AMLN (DIABETES DRUGS)
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To: richardred who wrote (2171)11/8/2011 12:46:03 PM
From: richardred   of 2173
 
Thank goodness we have some sort of closure. I wonder what Carl is thinking. He's looking for a partner/deal for Navistar/Oshkosh Corp. Who's to say he wouldn't want to flex his muscles here to find a partner for AMLN?

Amylin, Lilly end diabetes drug partnership
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BOSTON (MarketWatch) -- Amylin Pharmaceuticals /quotes/zigman/68225/quotes/nls/amln AMLN -14.36% and Eli Lilly & Co. /quotes/zigman/232185/quotes/nls/lly LLY +1.02% said Tuesday that they are ending their long-standing partnership for the diabetes drug exenatide, which is marketed under the name Byetta. The deal also covers a long-acting version of the drug called Bydureon, which is up for U.S. regulatory approval. Under the agreement, Amylin will assume responsibility for commercializing exenatide products in the U.S. starting on Nov. 30. By the end of 2013, Amylin will have responsibility for marketing the products globally. In return, Amylin will pay Lilly $250 million upfront, plus a percentage of global net sales of the products. The percentage and duration of the payments is linked to whether Bydureon is able to receive U.S. approval by June 30, 2014. Shares of Amylin were down 14% at $9.44 while shares of Lilly rose 1% in late morning trading.

marketwatch.com
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