Piper Jaffray Said Taspo Delays A Positive for Amylin (AMLN)

June 18, 2010 8:15 AM EDT
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Analysts at Piper Jaffray are commenting positively on Amylin Pharmaceuticals (Nasdaq: AMLN) on Taspo delays.

The firm commented, "Roche announced this morning an amendment to their Phase III taspoglutide trial protocol to address cases of hypersensitivity reactions, which although rare (<1%) will result in a 12-18 month delay to the regulatory timeline. This emerging safety concern further supports our view that Bydureon possesses the best therapeutic profile amongst the GLP-1 class. This news should also assuage investor concerns related to sales potential of Bydureon and its ability to deliver sustainable profitability for AMLN. We expect today's news to potentially decrease launch costs of Bydureon as Amylin and Lilly will now have 3-4 years to establish the drug in the marketplace prior to taspoglutide launch, driving profitability. Taspo's delay also opens the opportunity for higher Bydureon sales. We are reiterating our Overweight rating on AMLN and expect upside in shares to be driven by confirmation of Bydureon's leading position at the ADA conference next week and potentially earlier approval."

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