Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Biotech company Amylin Pharmaceuticals
So what: Amylin's shares spiraled a staggering 50%, while Alkermes was down a nasty 30%. Ely Lilly
Now what: Today's decision marks the second Food and Drug Administration rejection of Bydureon, but this one comes on a nasty, Roy Halladay-like curveball. The FDA's request for more data on Bydureon's potential heart risks comes as a huge surprise and, as resident biotech Fool Brian Orelli noted, represents somewhat of a worst-case scenario for the drug. Bydureon will now be delayed as long as 20 months, and the competitive landscape is only expected to be more daunting by that time. While it's always tempting to jump on a jaw-dropping price plunge, this Fool's stomach just isn't strong enough to do it today.
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