Amylin outlines diabetes strategy for 2012
SAN DIEGO — A special focus on its diabetes franchise will define Amylin Pharmaceuticals' corporate strategy, the company's chief executive said at a recent conference sponsored by J.P. Morgan.
Speaking at the 30th annual J.P. Morgan Healthcare Conference in San Francisco, Amylin president and CEO Daniel Bradbury laid out the company's plans for the launch of the injected Type 2 diabetes medication Bydureon (exenatide), a long-acting version of the drug Byetta. Amylin originally marketed Byetta and planned to market Bydureon under a partnership with Indianapolis-based Eli Lilly, but the companies terminated their agreement to develop exenatide products in November after Lilly started a diabetes drug collaboration with German drug maker Boehringer Ingelheim. Under the agreement to terminate the Amylin-Lilly collaboration, Amylin paid $250 million upfront to Lilly and agreed to share 15% of revenues from sales of exenatide products.
Bydureon is under review by the Food and Drug Administration, which is expected to decide whether or not to approve the drug by Jan. 28.
Bradbury listed Amylin's priorities as launching Bydureon; securing a partner outside the United States to develop exenatide; maximizing the value of Byetta and Symlin (pramlintide acetate); advancing the development programs for the investigational drug metreleptin, as well as once-weekly and once-monthly formulations of exenatide; and a continued focus on financial discipline
"We have a truly extraordinary opportunity at Amylin as we embark on a year in which we are prepared to deliver the first ever once-weekly therapy in the U.S. for patients with Type 2 diabetes — which we believe could change the way people with diabetes manage their disease," Bradbury said. "With the addition of Bydureon in the U.S., we will solidify our position as a driving force in the fight against this rising global epidemic."