Goldman Sachs Keeps "Sell" on Amylin (AMLN) Despite FDA Approval

January 30, 2012 11:28 AM EST Send to a Friend
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Price: $30.98 --0%

Rating Summary:
    3 Buy, 8 Hold, 4 Sell

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Goldman Sachs reiterated their Sell rating Amylin Pharmaceuticals (NASDAQ: AMLN) despite FDA approval for Bydureon although the price target was raised from $7 to $11.

The firm said while the approval removes the regulatory risk their negative view on the commercial opportunity of the drug remains unchanged.

"We continue to expect Bydureon (dosed once-weekly) to face numerous challenges upon launch including gaining traction with primary care physicians (given lack of commercial support from former partner, LLY), competition from Novo's Victoza (dosed once-daily with a pre-filled syringe pen that is easier to use than Bydureon's, and favorable head-to-head data), and potential competition from other once-weekly GLP-1's in development."

For an analyst ratings summary and ratings history on Amylin Pharmaceuticals click here. For more ratings news on Amylin Pharmaceuticals click here.

Shares of Amylin Pharmaceuticals closed at $12.14 yesterday.


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Comments

Great relief for patients.
on 2012-02-01 13:11:30
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Think about the relief this drug brings to diabetic patients. Instead of daily injections, just once in a week. wow that is a lot better.

AMLN - UP
Hill Larryious on 2012-01-30 11:40:36
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Too funny that Goldman Sachs that got the bydureon incorrect sticks by their sell rating over doubts that Amylin can have enough support for this new revolutionary drug, and thinking that a once daily injectable drug will give bydureon any competition. Evidently they do not listen very well! Meg Malloy would be a smarter analyst at this time (used to be their Amylin analyst),


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