Resurrections are an old biotech story. Now it's Amylin's happy duty to play the leading role--thanks to a product surprise. Its best known product, Symlin, delayed in the clinic, looks to be a smaller market product for diabetes than AC2993, which could compete with oral medicines. Lilly's signed up for a major deal on the product when its own competitive program failed. The deal itself gets Amylin a true partner's interest in the development and commercial prospects for the drug, but includes some interesting convertibility features that put Amylin at some risk if it doesn't perform.
Resurrections are an old biotech story. Now it's Amylin Pharmaceuticals Inc. 's happy duty to play the leading role, thanks to a product surprise.
By 1998, the company's leading product, pramlintide (Symlin), had twice failed to show efficacy in clinical trials. It was unceremoniously...