Amylin Pharmaceuticals Reports Second Quarter Financi...(d DURATION-2 study ...),Health

Symlin

• Presented data that showed the use of mealtime SYMLIN improved glucose control, treatment satisfaction and quality of life for patients with type 2 diabetes
  

Six Months Ended June 30, 2009

Total revenues for the six months ended June 30, 2009 were $403.0 million. This includes net product sales of $376.8 million, including $332.8 million for BYETTA and $44.0 million for SYMLIN. This compares to net product sales of $379.1 million, consisting of $336.0 million for BYETTA and $43.1 million for SYMLIN for the same period in 2008.

Revenues under collaborative agreements decreased to $26.2 million for the six months ended June 30, 2009, compared to $40.2 million for the same period in 2008. The decrease reflects lower cost-sharing payments from Lilly due to decreased spending associated with the BYETTA and exenatide once weekly development programs.

Selling, general and administrative expenses decreased to $179.6 million for the six months ended June 30, 2009 from $209.3 million for the same period in 2008. The decrease primarily reflects efficiencies driven by the Company's reduced cost structure, partially offset by costs associated with the Company's recent proxy contest in connection with its 2009 annual meeting of stockholders held in May 2009.

Research and development expenses decreased to $123.6 million for the six months ended June 30, 2009 from $152.6 million for the same period in 2008. The decrease primarily reflects lower development expenses for exenatide once weekly and BYETTA, and reduced expenses for the Company's obesity programs, driven by the Company's reduced cost structure. Research and development expenses for the six months ended June 30, 2008 also included an $8.0 million license payment for drug delivery te
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