Bydureon Gains EU Approval - Analyst Blog
June 22 2011 - 12:39PM
Zacks
Amylin Pharmaceuticals, Inc. (AMLN) and its
partners, Eli Lilly and Company (LLY), and
Alkermes, Inc. (ALKS), recently received a boost
with the European Commission granting marketing authorization to
Bydureon (exenatide once-weekly) for the treatment of type II
diabetes.
Bydureon is the first once-weekly treatment to gain approval for
type II diabetes. Approval was granted for use in combination with
metformin, a sulfonylurea, a thiazolidinedione, metformin plus a
sulfonylurea or metformin plus a thiazolidinedione.
EU Approval Was Expected
EU approval was expected as, earlier in April, Bydureon had
received a positive opinion from the European Medicines Agency’s
(EMA) Committee for Medicinal Products for Human Use (CHMP).
While anticipated, the final approval of Bydureon, nevertheless,
comes as a relief for Amylin which has recently been at the
receiving end of a series of disappointing pipeline-related news.
In mid-March 2011, Amylin and its partner Takeda Pharmaceutical
Company Limited had announced the suspension of clinical activities
associated with a phase II study of their obesity candidate.
Amylin and Takeda were studying the safety and efficacy of
pramlintide/metreleptin for the treatment of obesity. However, the
companies decided to voluntarily halt the trial in order to study a
new antibody-related laboratory finding associated with metreleptin
in two patients.
Earlier in March, Amylin’s shares lost more than 25% when the
company released disappointing data on Bydureon, from a
head-to-head study. Bydureon failed to achieve its primary endpoint
of non-inferiority in the DURATION-6 study, which compared Bydureon
with Novo Nordisk’s (NVO) Victoza.
Response to FDA to be Submitted in the Second Half of
2011
Meanwhile, the regulatory path for Bydureon has not been smooth
in the US where it has already received two complete response
letters (CRLs) from the Food and Drug Administration (FDA). Amylin
and its partners are currently conducting a thorough QT (tQT) study
with Bydureon as per the requirements of the second CRL.
The agency has also asked Amylin and its partners, Eli Lilly and
Alkermes, to submit data from the DURATION-5 study which was
conducted to compare the safety and efficacy of Bydureon versus
Byetta (exenatide). Amylin and its partners intend to submit a
response to the second CRL in the second half of 2011.
Neutral on Eli Lilly, Amylin and Alkermes
We currently have Neutral recommendations on Eli Lilly, Amylin
and Alkermes. Amylin stands to receive a $15 million milestone
payment from Eli Lilly on the EU launch of Bydureon.
ALKERMES INC (ALKS): Free Stock Analysis Report
AMYLIN PHARMA (AMLN): Free Stock Analysis Report
LILLY ELI & CO (LLY): Free Stock Analysis Report
NOVO-NORDISK AS (NVO): Free Stock Analysis Report
Zacks Investment Research
Amylin Pharmaceuticals, Inc. (MM) (NASDAQ:AMLN)
Historical Stock Chart
From May 2024 to Jun 2024
Amylin Pharmaceuticals, Inc. (MM) (NASDAQ:AMLN)
Historical Stock Chart
From Jun 2023 to Jun 2024