Amylin's loss narrows 13.1% in 4th-qtr

San Diego, USA-based drugmaker Amylin Pharmaceuticals says that its losses for the fourth quarter of 2006 were $58.4 million, or $0.45 per share, down 13.1% from the $67.2 million deficit in the comparable period in 2005. This beat the forecast of analysts polled by Thompson Financial, who predicted that the firm would see losses of $0.52 per share.

The firm also reported that its revenue reached $163.4 million, up 157% for the quarter. Amylin explained that the improvement was as a result of an increase in the sales of the diabetes drug Byetta (exenatide), which grew 175% to $137.0 million, and Symlin (pramlintide acetate), which contributed $13.6 million, up 109%. However, the group's turnover was still short of the expected $167.2 million consensus that the Thompson survey forecast.

Amylin said that its selling, general and administrative expenses increased 56% to $89.6 million. In addition, it said that its R&D expenditure had grown to $66.2 million from $45.3 million.