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Updated from 10:42 a.m. EST
Shares of Amylin Pharmaceuticals (AMLN Quote) plummeted Tuesday after its partner Alkermes (ALKS Quote) disclosed in a filing with the Securities and Exchange Commission the likelihood of regulatory delays for Byetta LAR.
Shares of Amylin were giving up 20% to $8.49 in recent trading Tuesday, while Alkermes was shedding 9.8% to $9.11.
Alkermes said it recently received feedback from the Food and Drug Administration that data submitted as part of its new-drug application (NDA) for a long-acting version of diabetes drug Byetta do not meet FDA requirements. ...
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