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What: Shares of biotechnology company Amylin Pharmaceuticals
So what: Developed using Alkermes' drug-release technology, Bydureon is a long-lasting form of Amylin's currently marketed twice-a-day injectable drug, Byetta, which is used to treat diabetes. Bydureon only needs to be taken once a week, and many pundits believe it has the potential to become a $1 billion drug within three years.
Now what: Amylin had a rough go of things prior to this approval. Bydureon had been rejected by the FDA twice before, and Eli Lilly, which had been marketing Byetta, discontinued its relationship with Amylin in November. Even approval of Bydureon doesn't guarantee Amylin success because diabetes is a very overcrowded space, but it does put Amylin back on the buyout radar for larger pharmaceutical companies with rapidly aging pipelines.
Craving more input? Start by adding Amylin Pharmaceuticals to your free and personalized watchlist so you can keep track of the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.