SAN FRANCISCO, Jan. 11, 2010 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) today announced the 2010 corporate priorities that will position the Company to address the dual epidemics of diabetes and obesity, achieve positive operating cash flow by the end of the year and place the Company on the path to operating profitability by the end of 2011. The news was presented by Daniel M. Bradbury, president and chief executive officer, at the 28th Annual J.P. Morgan Healthcare Conference in San Francisco, CA.
"Amylin's first-in-class diabetes products have been used by more than a million people living with diabetes. Through extraordinary science and our rich pipeline, Amylin has the potential to transform the lives of millions more who struggle to manage their diabetes or obesity," said Bradbury. "Amylin is poised for a value inflection year in 2010 by leveraging our deep knowledge and expertise in metabolic diseases, capitalizing on the enormous market opportunity within the diabetes space, advancing our obesity program and continuing to progress along the path to sustained profitability."
2010 Corporate Priorities
During his remarks, Bradbury highlighted the following 2010 priorities for Amylin:
- Drive revenue from our currently marketed products BYETTA® (exenatide) injection and SYMLIN® (pramlintide acetate) injection
- Obtain approval for, and successfully launch, exenatide once weekly into the large and growing diabetes market, while continuing to advance the clinical trial superiority strategies
- Manage expenses and end the year with sustainable, positive cash flow from operations
- Continue to advance our diabetes and obesity development programs and maximize the value of the Company's deep therapeutic knowledge in peptide research
A recording of the presentation and break-out session will be accessible through Amylin's corporate Web site, located at www.amylin.com.
About Amylin Pharmaceuticals
Amylin Pharmaceuticals is a biopharmaceutical company dedicated to improving lives of patients through the discovery, development and commercialization of innovative medicines. Amylin has developed and gained approval for two first-in-class medicines for diabetes, SYMLIN® (pramlintide acetate) injection and BYETTA® (exenatide) injection. Amylin's research and development activities leverage the Company's expertise in metabolism to develop potential therapies to treat diabetes and obesity. Amylin is headquartered in San Diego, California. Further information on Amylin Pharmaceuticals is available at www.amylin.com.
This press release contains forward-looking statements about Amylin, which involve risks and uncertainties. Amylin's actual results could differ materially from those discussed due to a number of risks and uncertainties, including the risks that: BYETTA and SYMLIN and the revenues generated from these products may be affected by competition, unexpected new data, and safety and technical issues; clinical trials, including the trials included in our clinical superiority strategy mentioned in this press release, not being completed in a timely manner, confirming previous results, or achieving the intended clinical endpoints; label expansion requests or NDA filings not being submitted in a timely manner; regulatory approvals, including approval of exenatide once weekly, being delayed or not received; the launch of exenatide once weekly, if approved, being delayed; our expense management efforts not producing the results we expect; or manufacturing and supply issues. The potential for BYETTA and SYMLIN may also be affected by government and commercial reimbursement and pricing decisions, the pace of market acceptance, or scientific, regulatory and other issues and risks inherent in the development and commercialization of pharmaceutical products. These and additional risks and uncertainties are described more fully in Amylin's most recent SEC filings including its Quarterly Report on Form 10-Q. Amylin undertakes no duty to update these forward-looking statements.
SOURCE Amylin Pharmaceuticals, Inc.