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Amylin Pharmaceuticals Reports 2007 Financial Results
Date:1/28/2008

Net product sales increased 48% over 2006 to $701 million

SAN DIEGO, Jan. 28 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) today reported financial results for the quarter and year ended December 31, 2007. The Company reported total revenue of $222.0 million for the quarter ended December 31, 2007, which includes net product sales of $194.7 million. Net loss was $76.9 million, or $0.57 per share for the quarter ended December 31, 2007. Net loss for the quarter ended December 31, 2007 includes a full year non-cash expense of approximately $17 million associated with the adoption of an employee stock ownership plan (ESOP). The Company reported total revenue of $781.0 million for the year ended December 31, 2007, which includes net product sales of $701.5 million. Net loss for the year ended December 31, 2007 was $211.1 million, or $1.59 per share. At December 31, 2007 the Company held cash, cash equivalents and short-term investments of approximately $1.1 billion.

"BYETTA and SYMLIN continued to experience growth in physician adoption and prescriptions, generating net product sales of over $700 million. In addition, we announced positive clinical data from our key development programs, including exenatide once weekly, BYETTA monotherapy, and our pramlintide-metreleptin obesity program," said Daniel M. Bradbury, President and Chief Executive Officer of Amylin Pharmaceuticals. "For 2008, we remain confident in prospects for the continued growth of BYETTA and SYMLIN and we have aggressive development plans for the year. These plans balance investments across opportunities in the near, mid and long-term and include the completion of our Ohio manufacturing facility, a strong clinical program to expand a
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SOURCE Amylin Pharmaceuticals, Inc.
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