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Amylin, Eli Lilly Shares Slip On Diabetes Drug Worries

Amylin Pharmaceuticals' and Eli Lilly'sdiabetes drug Byetta may be linked to cases of acute pancreatitis in some patients, U.S. health officials said in an alert issued on Tuesday.

The U.S. Food and Drug Administration said it had reviewed 30 reports of pancreatitis in patients taking Byetta, known generically as exenatide.

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Shares of both companies declined Tuesday, with Amylin stock falling more than 4 percent.

"An association between Byetta and acute pancreatitis is suspected in some of these cases," an FDA alert said.

Amylin has agreed to add information about acute pancreatitis to the precautions section of Byetta's label, the FDA said.

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