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Amylin Pharmaceuticals Reports Third Quarter Financial Results
Date:10/21/2008

Product sales increased 14% over third quarter 2007 to $201 million

SAN DIEGO, Oct. 21 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) today reported financial results for the quarter ended September 30, 2008. The Company reported total revenue of $218.4 million for the third quarter, including net product sales of $201.4 million, a 14% increase over the same period in 2007. Net loss for the quarter ended September 30, 2008 was $77.7 million, or $0.57 per share. Net loss per share, excluding an impairment loss on investments of $14.9 million, or $0.11 per share, was $0.46 per share.

"This quarter we reported strong product sales in the face of an increasingly challenging environment. Additionally we completed an exenatide once weekly product supply agreement with Lilly that strengthens our balance sheet and provides financial flexibility for the future," said Daniel M. Bradbury, president and chief executive officer of Amylin Pharmaceuticals. "We continue to manage the company towards sustainable, profitable growth by driving BYETTA and SYMLIN revenue, managing our expenses, and bringing exenatide once weekly to market."

Quarter ended September 30, 2008

Net product sales of $201.4 million for the third quarter include $179.9 million for BYETTA(R) (exenatide) injection and $21.5 million for SYMLIN(R) (pramlintide acetate) injection. This represents a 14% increase over net product sales of $177.4 million for the same period in 2007.

Revenues under collaborative agreements were $17.0 million for the quarter ended September 30, 2008, compared to $12.6 million for the same period in 2007. The increase reflects higher cost-sharing payments from Lilly for development expenses for BYETTA an
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SOURCE Amylin Pharmaceuticals, Inc.
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