Amylin Pharmaceuticals Highlights 2009 Value Creation Opportunities
Product and Operational Targets Presented At JPMorgan Healthcare Conference
SAN FRANCISCO, Jan. 12 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) today announced product and operational targets for 2009 that provide the opportunity to transform diabetes and obesity treatment and position the Company to be cash flow positive by the end of 2010. The news was presented by Daniel M. Bradbury, president and chief executive officer, at the JPMorgan Healthcare Conference in San Francisco, CA.
"The epidemics of diabetes and obesity, which synergistically contribute to cardiovascular disease, are the major health crises of our lifetime," said Bradbury. "The significant unmet need in the diabetes and obesity markets provides an opportunity for Amylin's first-in-class therapies to create tremendous benefit. We look to 2009 to further improve health outcomes for patients, physicians and payors, and to increase shareholder value."
2009 CORPORATE TARGETS
During his remarks, Bradbury highlighted the key 2009 value creation opportunities for Amylin. These targets include the following:
Gain approval for an expanded indication of BYETTA as a monotherapy, finalize label updates and return the product to growth
Leverage knowledge gained from BYETTA to submit the New Drug Application (NDA) for exenatide once weekly and execute the DURATION head-to-head clinical program designed to show comparative superiority
Continue growing SYMLIN revenue
Complete obesity clinical trials with amylin/leptin analogs and finalize obesity development and funding strategy
Improve operating results and make significant progress toward achieving positive operating cash flow by the end of 2010
Bradbury added, "Our priorities are clear: Grow BYETTA and SYMLIN revenue, submit the NDA for exenatide once weekly and maintain an unwavering focus on managing expenses to achieve positive cash flow by the end of 2010."
A recording of the presentation is accessible through Amylin's corporate Web site, located at www.amylin.com.
About Amylin Pharmaceuticals
Amylin Pharmaceuticals is a biopharmaceutical company committed to improving lives through the discovery, development and commercialization of innovative medicines. Amylin has developed and gained approval for two first-in-class medicines for diabetes, SYMLIN(R) (pramlintide acetate) injection and BYETTA(R) (exenatide) injection. Amylin's research and development activities leverage the Company's expertise in metabolism to develop potential therapies to treat diabetes and obesity. Amylin is headquartered in San Diego, California. Further information on Amylin Pharmaceuticals is available at http://www.amylin.com.
This press release contains forward-looking statements about Amylin, which involve risks and uncertainties. Amylin's actual results could differ materially from those discussed due to a number of risks and uncertainties, including the risks that: BYETTA and SYMLIN and the revenues generated from these products may be affected by competition, unexpected new data, and safety and technical issues; clinical trials, including those mentioned in this press release, not being completed in a timely manner, confirming previous results, or achieving the intended clinical endpoints; label expansion requests or NDA filings, including those mentioned in this press release, not being submitted in a timely manner; regulatory approvals being delayed or not received; updates to the BYETTA label not being finalized in a timely manner; our obesity development and funding strategy not being finalized in a timely manner; our expense reductions may not be as large as we expect; or manufacturing and supply issues. The potential for BYETTA and SYMLIN may also be affected by government and commercial reimbursement and pricing decisions, the pace of market acceptance, or scientific, regulatory and other issues and risks inherent in the development and commercialization of pharmaceutical products. These and additional risks and uncertainties are described more fully in Amylin's most recent SEC filings including its Quarterly Report on Form 10-Q. Amylin undertakes no duty to update these forward-looking statements.
