Amylin loses the plot
Image viaWikipediaByetta producer and Eli Lily partner suffered a drop in its byetta sales , lower by $150 mn for Q3 as its new version of the Byetta regimen, Bydureon was rejected by the FDA for possible Cardiac complications. For FDA it might even have been a simpler case of making a public monkey out of Amylin after Avandia and Glaxo Smithkline was destroyed because of inadequate disclosure on its Cardiac side effects and a recall spanning a loss of $198 mln in September 2010.Even as diabetes medication comes under the scanner and Pfizer goes ahead with a new sign up with India's Biocon, pecuniary FDA action seems to have triggered an interesting deal mania intth e industry wih Eli Lily rumored to be in the running for using its $5.6 billion in cash to buy up Amylin which is 33% cheaper at $2.5 bln this week or other such niche producers with a pipeline of promising new molecules in its belt.
