- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Dubai's Debt Woes Signal New Era for Creditors
- Banks With The Biggest Exposure to The UAE
- Slideshow: The World's Biggest Debtor Nations
- US Dollar Rises Against Most Currencies—Except Yen
- Five Tips for Buying a Foreclosed Home
- Shoppers Hit Black Friday Sales, Budgets Pared
- Slideshow: Fantasy Christmas Gifts 2009
- EA Sports Hopes to Pump Up Sales With Pop-Ups
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
- 8 Retailers that Gain During the Holidays
- Farrell: What's Different On This Black Friday
- 10 Dividend Picks For Your Portfolio: Chief Investors
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
MOST SHARED
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- 8 Retailers that Gain During the Holidays
- Finding the Holiday's Best Buys
- Banks Play Down Dubai Exposure, Investors Still Wary
- Charts: Dollar Could Fall to 80 Yen
- ING Prices Share Issue at Hefty Discount
- Shoppers Hit Black Friday Sales, Budgets Pared
Text Size 
Amylin Pharmaceuticals, Eli Lilly [LLY
Loading...
()
] and Alkermes [ALKS
Loading...
()
] have applied for Food and Drug Administration approval of a new once-weekly diabetes treatment, Byetta.
Byetta is an improved version of the current twice-daily injectable drug Byetta. The upgrade is being viewed by Wall Street as a way for Amylin to reinvigorate its sales.
The drug's competition would likely include Novo Nordisk's [NVO
Loading...
()
] once-daily treatment Liraglutide, which is currently under FDA review.
However, some of Byetta's potential side effects may include pancreatitis and a risk to thyroid cancer.
In the meantime, Amylin said it will be cutting about 35 percent of its sales force, citing a proxy fight with activist investor Carl Icahn.
Amylin [AMLN
Loading...
()
] said the job cuts would help save about $45 million in 2010.
Shares of the three companies moved higher following the announcement, with Alkermes up 7 percent, Amylin 6 percent higher and Eli Lilly up nearly 3 percent.
—AP contributed to this report.
Print
Email
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- Social enterprises are becoming a new asset class for the ethically-minded.
- With Americans cutting back on spending, holiday tipping will take another hit this year.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
- Some of the nation's top bartenders offer suggestions on what to serve at holiday celebrations this year.
Data is a real-time snapshot *Data is delayed at least 15 minutes