Wednesday, October 20, 2010

FDA Disaster For Diabetes Drug - Matthew Herper - The Medicine Show - Forbes

Mark Schoenebaum, an analyst at ISI Stock Research, says Amylin could lose half of its $3 billion market capitalization tomorrow as shares dip as low as $10. The news is bad for Eli Lilly, too, as it is already struggling with slow sales on newer products and a wave of patent experations that has been worsened by recent losses against generic drug makers in court.

On a conference call this evening, Amylin executives said conducting a new study to prove Bydureon does not cause prolonged heart rhythms could take until the end of next year. Once the data are submitted, the FDA will need six months to review them. That delays approval until the middle of 2012.

Posted via email from Jack's posterous

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