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

d December 31, 2008 from $391.0 million for the same period in 2007. Selling general and administrative expenses consist of continued investments in promotional spending for BYETTA and SYMLIN and business infrastructure to support the Company's operations.

Research and development expenses increased to $293.1 million for the year ended December 31, 2008 from $276.6 million for the same period in 2007. The increase primarily reflects continued investments in exenatide once weekly and the Company's obesity development programs.

Collaborative profit sharing, which represents Lilly's 50% share of BYETTA gross margin, was $302.6 million for the year ended December 31, 2008 compared to $290.9 million for the same period in 2007.

Non-GAAP operating loss, excluding non-cash items and the restructuring charge, was $137.2 million for the year ended December 31, 2008 compared to $147.2 million for the same period in 2007. Net loss excluding the restructuring charge was $260.5 million, or $1.90 per share. GAAP net loss for the year ended December 31, 2008 was $315.4 million, or $2.30 per share, compared to $211.1 million, or $1.59 per share for the same period in 2007.

Conference Call

Amylin will webcast its Quarterly Update Conference Call today at 5:00 p.m. ET/2:00 p.m. PT. The call will be webcast live through Amylin's corporate Web site, www.amylin.com, and a recording will be made available following the close of the call.

Daniel M. Bradbury, Amylin's president and chief executive officer, will lead the call. During the call, the Company plans to provide further details underlying its fourth quarter and 2008 financial results, and information regarding guidance for 2009 operations. For those without access to the Internet, the live call may be accessed by phone by calling (888) 713-4209 (U.S./Canada) or (617)
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SOURCE Amylin Pharmaceuticals, Inc.
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