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

nd enhance the profile of exenatide once weekly, the advancement of our obesity program, and continued investments in discovery research."

Quarter ended December 31, 2007

Net product sales of $194.7 million for the quarter include sales of $176.3 million for BYETTA(R) (exenatide) injection and $18.4 million for SYMLIN(R) (pramlintide acetate) injection. This compares to net product sales of $150.6 million, consisting of $137.0 million for BYETTA and $13.6 million for SYMLIN for the same period in 2006.

Revenue under collaborative agreements was $27.3 million for the quarter ended December 31, 2007, compared to $12.8 million for the same period in 2006. The increase reflects higher cost-sharing payments from Lilly and Company to equalize development expenses for BYETTA and exenatide once weekly.

The Company's results for quarter ended December 31, 2007 includes $17 million in full year non-cash expense associated with the adoption of an ESOP of which $10 million is included in selling, general and administrative expenses and $7 million is included in research and development expenses. The adoption of the ESOP represents a change in the composition of the Company's equity compensation.

Selling, general and administrative expenses increased to $122.4 million for the quarter ended December 31, 2007, compared to $89.6 million for the same period in 2006. The increase primarily reflects increased promotional expenses for BYETTA and SYMLIN and increased business infrastructure to support the Company's growth.

Research and development expenses increased to $83.9 million for the quarter ended December 31, 2007, compared to $66.2 million for the same period in 2006. The increase primarily reflects costs associated with the development of exenatide once weekly, including manufacturing scale-up.

Collaborative profit sharing, which represents Lilly's share of the gross margin for BYETTA, was $78.6 million for the quarter ended Dec
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SOURCE Amylin Pharmaceuticals, Inc.
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