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What: Shares of drug maker Amylin Pharmaceuticals
So what: Diabetes treatment Bydureon has been recommended for approval by Europe's Committee for Medicinal Products for Human Use. The drug is being developed with Alkermes
Now what: After being pummeled when Bydureon failed to meet primary endpoints in a study last month, this is certainly good news for shareholders. Considering the volatile nature of the stock and constant surprises one way or the other, it's still a risky proposition to buy on this news. I'm going to stick firmly on the sidelines, considering the stock has let investors down more than once before.
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