Amylin disappointed with U.S. District Court's ruling in BYETTA preliminary injunction
Published on June 10, 2011 at 4:38 AM
Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) ("Amylin" or "the Company") today issued the following statement regarding the decision of the United States District Court for the Southern District of California to deny its motion for a preliminary injunction to enjoin Eli Lilly and Company (NYSE: LLY) ("Lilly") from engaging in anticompetitive activity and breaching its diabetes collaboration agreement with Amylin.
"We are disappointed by the Court's decision not to issue a preliminary injunction, which Amylin requested to prevent Lilly from proceeding with its plans to use the same sales force to sell both exenatide and Boehringer Ingelheim GmbH's competing drug, linagliptin. Amylin continues to believe that Lilly's conduct violates our diabetes collaboration agreements, is anti-competitive and limits patients' treatment options. It is important to note that the Court's decision did not make any findings on the merits of our claims, but merely declines to award injunctive relief, based on the conclusion that monetary damages would be sufficient. We intend to vigorously pursue the litigation to enforce our legal and contractual rights."
The complete order is being filed on Amylin's Current Report on Form 8-K with the Securities and Exchange Commission.
In 2002, Amylin entered an alliance with Lilly for the global development and commercialization of exenatide, a medicine indicated as a first line treatment for type 2 diabetes that is currently marketed as BYETTA® (exenatide) injection. Exenatide is also the active ingredient in BYDUREON™ (exenatide extended-release for injectable suspension), a once-weekly version currently under review by the FDA.
Amylin Pharmaceuticals, Inc.