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Amylin Pharmaceuticals Announces a New Sales Approach to Better Target the Diabetes Market
Date:5/4/2009

ore efficient and frequent interactions. These changes build on Amylin's scientific strength, and leverage Lilly's expertise and reach with primary care prescribers, so that we are well positioned to address the information needs of the complex diabetes market," said Daniel M. Bradbury, president and chief executive officer at Amylin Pharmaceuticals. "Today's actions are in line with our stated goal of achieving positive operating cash flow by the end of 2010, while continuing to position the company to increase sales of BYETTA and SYMLIN and bring exenatide once weekly to market as quickly as possible."

Mr. Bradbury continued, "We appreciate the significant contributions of field sales employees who will be affected by today's announcement and are grateful for their efforts and dedication to Amylin's mission."

The sales force changes will result in an annualized benefit of approximately $45 million in GAAP operating results in 2010, and a partial year benefit of approximately $20 million in 2009, which includes reductions in field sales staff and expenses, partially offset by additional cost-sharing for Lilly's primary care sales efforts. As a result of these expense reductions, which are primarily cash expenses, the Company estimates that total GAAP operating expenses for 2009 will now be at the lower end of the previously stated guidance range of $600 million to $625 million, and GAAP operating loss will also be at the lower end of the previously stated guidance range of $175 million to $200 million. This guidance for GAAP operating loss excludes a restructuring charge, estimated to be approximately $13 to $15 million, which the Company will record in the second quarter, consisting of primarily severance and other employee-related costs.

About Amylin Pharmaceuticals

Amylin Pharmaceuticals is a biopharmaceutical company committed to improving lives through the discovery, development and commerciali
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SOURCE Amylin Pharmaceuticals, Inc.
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