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Financial Reprots: Amylin

Byetta sales slip, but losses narrow while company waits on Bydureon

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Amylin 4Q10

4Q Revenues: $174 million (-6%)

4Q Loss: $19 million (loss of $50 million in 4Q09)

FY Revenues: $669 million (-12%)

FY Loss: $152 million (loss of $13 million in FY09)

Comments: Byetta sales dropped 16% in 4Q10 to $136 million, while Symlin sales rose 24% to $26 million. The company paid Lilly $63 million in profit sharing in 4Q10, down from $75 million. For FY10, Byetta sales fell 16% to $559 million, while Symlin sales were up 6% to $92 million. Cost of goods sold (COGS) in 4Q10 was $14 million (-20%) and selling, general and administrative (SGA) costs were down 23% to $65 million. For FY10, COGS was $62 million (-25%) and SGA was $289 million (-16%).

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