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Weeks After Bydureon Launch, Amylin Looks Like A Takeout Target

 
• By Paul Bonanos

The diabetes drug maker has reportedly spurned a buyout offer at a 43% premium, driving up its share price – and perhaps discouraging it from pursuing the partnership it seeks.

In the first weeks after its launch, Bydureon uptake appears to be better than expected, helping its maker, Amylin Pharmaceuticals Inc. regain momentum in the Type 2 diabetes market. The glucagon-like peptide 1 is a once-weekly formulation of Amylin’s ground-breaking drug, Byetta, which opened up a new class of diabetes drugs, but has been losing market share to competitor Novo Nordisk AS’s Victoza (liraglutide), since February 2010.

The Bydureon launch has exceeded expectations so well that Amylin has become the fodder for takeover speculation, causing its valuation...

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More from United States

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More from North America

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• By Sarah Karlin-Smith

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• By Derrick Gingery and Sue Sutter

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• By Sue Sutter

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