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Amylin Pharmaceuticals' CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: AMLN

We are extremely pleased with the performance of BYDUREON thus far, and are highly encourage with the uptick in demand as BYDUREON continues to gain market share and expand the GLP-1 class.

Specifically, we're encouraged by the response from the high-prescribing, highly-influential physicians, that we have initially targeted.

By following this approach, we are building a strong foundation of long-term growth and adoption within the medical community. We are now 10 weeks into the launch of BYDUREON in the U.S. and it has gained more than 5% of the GLP-1 market. This growth is an addition to BYETTA maintaining 38% market share, establishing its new position in the short-acting GLP-1 receptor agonist class as the only product indicated to be added to the world's best-selling basal insulin.

With prescriptions, the GLP-1 receptor agonists having grown by nearly 60% since February 2010 and the class now approaching 2 billion in global sales, we believe that awareness of the benefits of GLP-1 therapy is at an all-time high. Our focus is on continuing to grow the GLP-1 receptor agonist class through the promotion of our Exenatide franchise.

With BYDUREON, we have the unique opportunity to grow and shape the long-acting GLP-1 market and with BYETTA, the only GLP-1 receptor agonist indicated to be added to the world's best-selling basal insulin, we have the opportunity to establish a new market with short-acting GLP-1 receptor agonist.

We believe our early success is the result of our 2 recently created dedicated commercial units, the Exenatide commercial unit and the specialty and orphan disease commercial units, each with it's own focused sales force, enabling us to devote sufficient attention to our entire product portfolio.

We now have a total of 650 reps hired, trained and in the field, supporting Exenatide, and an additional 65 reps trained and in the field detailing SYMLIN and BYETTA. Vince will provide more detail on commercial activities and the BYDUREON U.S. launch specifics later in the call.

Read the rest of this transcript for free on seekingalpha.com

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