Leerink Says Terminated Alliance with Lilly Opens Doors for M&A at Amylin (AMLN)

Shares of Amylin (Nasdaq: AMLN) are being defended by analysts at Leerink Swann Tuesday amid news the company and Eli Lilly (NYSE: LLY) terminated an alliance for exenatide and also resolved outstanding litigation. Amylin shares are down more than 10 percent this afternoon.

While the development "was obviously a surprise and a curve ball to investors," the analysts now believe "the number of suitable potential acquirers who could recognize massive syngergies with AMLN has just grown from 1 (Eli Lilly) to almost any large pharma with a primary care salesforce and endocrine interest..." The Leerink analysts specifically mention Sanofi (NYSE: SNY), GlaxoSmithKline (NYSE: GSK) and Novo Nordisk (NYSE: NVO).

Leerink Swann reiterated an Outperform rating on shares of Amylin.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Benchmark Reiterates Buy Rating on NVIDIA (NVDA), Updates Estimates
• DA Davidson Starts Everus (ECG) at Buy