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Fast Money

No. 3 - Does Gila Monster Spit Money?

The American Diabetes Association's annual meeting began Friday with many of the important presentations occurring next week. All eyes are on the twice a day drug Byetta, produced by Amylin Pharmaceuticals (AMLN) and Pfizer (PFE), which is derived from the saliva of a Gila monster.

CNBC Pharmaceuticals Reporter Mike Huckman joins the guys with more.

Huckman says the drug will be a twice a day injection and it’s a synthetic drug. (In other words, the chemical composition of gila saliva has been recreated in laboratories.)

Dylan says the problem is patients have to give themselves an injection in the stomach twice a day.

Huckman concurs but says Eli Lilly (LLY), Amylin and Alkermes (ALKS) are in a 3 way partnership to develop a once a week version of the same drug.

Huckman adds diabetes treatment could become a $30 billion market by 2011.

Gila Monster Spits Money

In a related note, Huckman says Nektar Therapeutics (NKTR) has released a somewhat large apparatus which allows a patient to inhale insulin. He adds ManKind Corp. (MNKD), and Emisphere Technologies (EMIS) are working on smaller versions.

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