Amylin Might Get a Sugar Rush from Byetta Sales

Includes: BMY, LLY
by: Faisal Laljee
Amylin Pharmaceuticals (AMLN) reports its third-quarter earnings on Oct 18th and while I am cautious on biotechs, this stock might get a boost from its Byetta sales. Since its launch in June 2005, over 1.3 million prescriptions for Byetta have been written.

In fact, the demand for Byetta has been so strong that Amylin and its partner in crime Eli Lily (NYSE:LLY), asked doctors back in April to limit the number of patients they started on the drug because of shortage. That restriction was lifted in August and I suspect this will bode well for the upcoming earnings. Additionally, Amylin is expecting Byetta to be approved in Europe over the next couple of months. I recommend accumulating this stock ahead of the earnings - I am expecting them to have a good quarter.

AMLN 1-yr chart:

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