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.
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.
Got something to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to .
Trader disclosure: On June 21 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:Finerman Owns (GS); Finerman's Firm Owns (FL); (MO),S&P Puts; Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns UniCredito Italiano; Seymour Owns (COP), (EEM), (BX), (AAPL), (TIE), (BP), (RTI), Gazprom; Gazprom Is On Pink Sheets In The U.S. And Trades On The Exchange In London; UniCredito Italiano Is On Pink Sheets In The U.S. And Trades On The Exchagne In London; Red Star Asset Management Owns Gazprom; Red Star Asset Management Is Short (EEM); Red Star Asset Management Is Short (XOM):GE Is The Parent Company Of CNBC