Amylin, Lilly Split on Diabetes Drug
Biotech Amylin and big pharmaceutical firm Eli Lilly have ended their partnership in the diabetes drug exenatide, sold as Byetta. Amylin will pay Lilly $250 million in cash and up to $1.2 billion in total, based on future exenatide sales, according to TheStreet.com. The partnership has been contentious. Amylin stock is down 13.82% this morning to $9.42.
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