{"id":233666,"date":"2010-01-26T15:18:30","date_gmt":"2010-01-26T20:18:30","guid":{"rendered":"http:\/\/blogs.wsj.com\/health\/2010\/01\/26\/new-diabetes-drug-rival-could-be-a-promising-sign-for-amylin\/"},"modified":"2010-01-26T15:18:30","modified_gmt":"2010-01-26T20:18:30","slug":"new-diabetes-drug-rival-could-be-a-promising-sign-for-amylin","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/233666","title":{"rendered":"New Diabetes-Drug Rival Could Be a Promising Sign for Amylin"},"content":{"rendered":"

\"Amylin\"The FDA approved a new diabetes drug called Victoza<\/a>, made by Novo Nordisk. It’s in the same class as Byetta, a twice-a-day diabetes drug co-marketed by Eli Lilly and Amylin. Amylin depends on Byetta for most of its revenues — and its shares are up more than 10%<\/a> this afternoon, to a 52-week high. <\/p>\n

Why should a new competitor send a company’s stock soaring? Because Amylin is working on a once-a-week version of Byetta, and the market thinks that FDA approval of Victoza, taken once a day, is a promising sign for long-acting Byetta.<\/p>\n

Here’s how Davis Bu, a Goldman Sachs analyst, put it in a note late yesterday:<\/p>\n

\n

We expect Amylin shares to trade up significantly, as we believe the news increases the likelihood of approval for EQW. EQW is a long acting form of Byetta, and is partnered with Eli Lilly. We estimate the sales potential to exceed $4 billion.<\/p>\n<\/blockquote>\n

An FDA decision on long-acting Byetta is expected later this year. <\/p>\n

In the meantime, not everyone thinks everything’s rosy for Amylin. Byetta has had some safety issues<\/a>, and the company’s shares are well below where they were a few years back. And, of course, there’s the fact that Byetta does have a new competitor.<\/p>\n

“Byetta sales and prescription trends have remained flat, and we expect this news to further weaken them,” said Adam Cutler, a Canaccord Adams analyst quoted by Dow Jones Newswires<\/a>.<\/p>\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

The FDA approved a new diabetes drug called Victoza, made by Novo Nordisk. It’s in the same class as Byetta, a twice-a-day diabetes drug co-marketed by Eli Lilly and Amylin. Amylin depends on Byetta for most of its revenues — and its shares are up more than 10% this afternoon, to a 52-week high. Why […]<\/p>\n","protected":false},"author":650,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-233666","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/233666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=233666"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/233666\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=233666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=233666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=233666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}