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Amylin Pharmaceuticals Reports 2008 Financial Results
Date:1/27/2009

hird quarter of 2009.
  • Initiated DURATION-4 clinical study, comparing exenatide once weekly as a monotherapy treatment to either metformin, a thiazolidinedione (TZD) or a dipeptidyl peptidase-4 (DPP-4) inhibitor. Results from this study are expected in 2010.
  • Corporate

    • Implemented a strategic restructuring that reduced the Company's San Diego workforce by approximately 25 percent, and announced plans to have a positive operating cash flow (defined as positive non-GAAP operating results) by the end of 2010.

    Obesity Program

    • Presented novel data on Amylin's promising obesity pipeline at The Obesity Society's Scientific Conference that supported the therapeutic potential of the integrated neurohormonal approach to obesity pharmacotherapy.

    Year ended December 31, 2008

    Total revenue for the year ended December 31, 2008 was $840.1 million. This includes net product sales of $765.3 million, consisting of $678.5 million for BYETTA and $86.8 million for SYMLIN. This compares to total revenue of $781.0 million for the same period in 2007, including net product sales of $701.5 million consisting of $636.0 million for BYETTA and $65.5 million for SYMLIN.

    Revenues under collaborative agreements were $74.8 million for the year ended December 31, 2008, compared to $79.5 million for the same period in 2007. Revenues under collaborative agreements consist primarily of cost-sharing payments from Lilly for BYETTA and exenatide once weekly development expenses. Collaborative revenues for the year ended December 31, 2007 included $15.0 million in milestones earned primarily upon Lilly's launch of BYETTA in the European Union.

    Selling, general and administrative expenses increased to $395.1 million for the year ende
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    SOURCE Amylin Pharmaceuticals, Inc.
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