Citi Provides Color on Amylin Pharmaceuticals

Citi provided color on Amylin Pharmaceuticals AMLN. In a research report published today, Citi commented on the company's new drug Bydureon. In the report, Citi states, “Amylin presented a poster at the ADA meeting showing the QTcF (heart conduction) data on Bydureon… The data showed that Bydureon did not lead to any concerning increase in the QTc interval in diabetics and there was no correlation between change in corrected QT interval and exenatide concentrations or renal status. This suggests that the upcoming tQT study will be clean and we expect that Bydureon will be approved in early Q2:12 after filing in late Q3/early Q4:11.” At the moment, Citi has a Hold rating and a price target of $15 placed on the company's stock. On Monday, Amylin closed the day at $12.68. Its shares added 1.66% to their value in today's pre-market trading to trade around $12.89.