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Amylin Pharmaceuticals Reports Fourth Quarter and Full Year 2011 Financial Results
Date:2/6/2012

  • Reacquired exclusive, global rights to develop and commercialize Amylin's exenatide franchise and began discussions with potential partners to develop and commercialize exenatide outside the U.S.
  • Initiated expansion of the Amylin sales force to 715 diabetes sales specialists completely focused on Amylin products with more efficient targeting.
  • Received FDA approval for a new use for BYETTA® (exenatide) injection, making it the only short-acting GLP-1 agonist approved for use as an add-on therapy to insulin glargine, with or without metformin and/or a thiazolidinedione (TZD).
  • Submitted an Investigational New Drug application for AC165198, a new fusion peptide developed under Amylin's collaboration with Biocon, Limited. The first clinical study for this potential therapy for diabetes was initiated in January 2012.

  • Quarter Ended December 31, 2011Net product sales of $160.9 million for the quarter ended December 31, 2011 include $132.6 million for BYETTA and $28.3 million for SYMLIN® (pramlintide acetate) injection. This compares to net product sales of $162.3 million, consisting of $136.4 million for BYETTA and $25.9 million for SYMLIN for the same period in 2010. Revenues under collaborative agreements were $4.1 million for the quarter ended December 31, 2011, compared to $11.9 million for the same period in 2010, which included $10 million in milestone revenue earned upon the launch of BYETTA in Japan.

    Selling, general and administrative expenses increased to $78.3 million for the quarter ended December 31, 2011 from $62.5 million for the same period in 2010. The increase primarily reflects expenses associated with BYDUREON pre-launch activities.  

    Research and development expenses decreased to $27.7 million for the quarter ended December 31, 2011 from $37.5 million for the same period in 2010. The decrease reflects the favorable disposition of certain cost-sharing disputes with Eli Lilly and Com
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    SOURCE Amylin Pharmaceuticals, Inc.
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