Amylin Pharmaceuticals Highlights 2009 Value Creation Opportunities
January 12 2009 - 1:15PM
PR Newswire (US)
Product and Operational Targets Presented At JPMorgan Healthcare
Conference SAN FRANCISCO, Jan. 12 /PRNewswire-FirstCall/ -- Amylin
Pharmaceuticals, Inc. (NASDAQ:AMLN) today announced product and
operational targets for 2009 that provide the opportunity to
transform diabetes and obesity treatment and position the Company
to be cash flow positive by the end of 2010. The news was presented
by Daniel M. Bradbury, president and chief executive officer, at
the JPMorgan Healthcare Conference in San Francisco, CA. "The
epidemics of diabetes and obesity, which synergistically contribute
to cardiovascular disease, are the major health crises of our
lifetime," said Bradbury. "The significant unmet need in the
diabetes and obesity markets provides an opportunity for Amylin's
first-in-class therapies to create tremendous benefit. We look to
2009 to further improve health outcomes for patients, physicians
and payors, and to increase shareholder value." 2009 CORPORATE
TARGETS During his remarks, Bradbury highlighted the key 2009 value
creation opportunities for Amylin. These targets include the
following: -- Gain approval for an expanded indication of BYETTA as
a monotherapy, finalize label updates and return the product to
growth -- Leverage knowledge gained from BYETTA to submit the New
Drug Application (NDA) for exenatide once weekly and execute the
DURATION head-to-head clinical program designed to show comparative
superiority -- Continue growing SYMLIN revenue -- Complete obesity
clinical trials with amylin/leptin analogs and finalize obesity
development and funding strategy -- Improve operating results and
make significant progress toward achieving positive operating cash
flow by the end of 2010 Bradbury added, "Our priorities are clear:
Grow BYETTA and SYMLIN revenue, submit the NDA for exenatide once
weekly and maintain an unwavering focus on managing expenses to
achieve positive cash flow by the end of 2010." A recording of the
presentation is accessible through Amylin's corporate Web site,
located at http://www.amylin.com/. About Amylin Pharmaceuticals
Amylin Pharmaceuticals is a biopharmaceutical company committed to
improving lives through the discovery, development and
commercialization of innovative medicines. Amylin has developed and
gained approval for two first-in-class medicines for diabetes,
SYMLIN(R) (pramlintide acetate) injection and BYETTA(R) (exenatide)
injection. Amylin's research and development activities leverage
the Company's expertise in metabolism to develop potential
therapies to treat diabetes and obesity. Amylin is headquartered in
San Diego, California. Further information on Amylin
Pharmaceuticals is available at http://www.amylin.com/. This press
release contains forward-looking statements about Amylin, which
involve risks and uncertainties. Amylin's actual results could
differ materially from those discussed due to a number of risks and
uncertainties, including the risks that: BYETTA and SYMLIN and the
revenues generated from these products may be affected by
competition, unexpected new data, and safety and technical issues;
clinical trials, including those mentioned in this press release,
not being completed in a timely manner, confirming previous
results, or achieving the intended clinical endpoints; label
expansion requests or NDA filings, including those mentioned in
this press release, not being submitted in a timely manner;
regulatory approvals being delayed or not received; updates to the
BYETTA label not being finalized in a timely manner; our obesity
development and funding strategy not being finalized in a timely
manner; our expense reductions may not be as large as we expect; or
manufacturing and supply issues. The potential for BYETTA and
SYMLIN may also be affected by government and commercial
reimbursement and pricing decisions, the pace of market acceptance,
or scientific, regulatory and other issues and risks inherent in
the development and commercialization of pharmaceutical products.
These and additional risks and uncertainties are described more
fully in Amylin's most recent SEC filings including its Quarterly
Report on Form 10-Q. Amylin undertakes no duty to update these
forward-looking statements. DATASOURCE: Amylin Pharmaceuticals,
Inc. CONTACT: Media, Anne Erickson, +1-858-754-4443, Cell,
+1-858-349-3195, , or Investors, Michael York, +1-858-458-8602, ,
both of Amylin Pharmaceuticals Web Site: http://www.amylin.com/
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