Hapoalim Securities Expects Eli Lilly To Acquire Amylin Pharmaceuticals Post Approval Of AMLN’s Bydureon
Analyst Jon LeCroy of Hapoalim Securities reiterates his "buy" rating on Amylin Pharmaceuticals (NASDAQ: AMLN). The target price for AMLN is set to $22.
According to Hapoalim Securities, “Amylin presented data from the DURATION 2 and 5 trials that, in our view, support both the superiority and the approvability of Bydureon. In DURATION 2 Bydureon handily beat Actos or Januvia and in DURATION 5 Bydureon showed superiority to Byetta. In October, we expect the FDA to approve Bydureon with a similar Black Box label to Victoza and in the next several years, we would expect Eli Lilly (NYSE: LLY) to acquire Amylin.”
Hapoalim Securities expects Amylin shares to suffer if “the approval of Bydureon is a drawn-out approval process at the FDA, or if Amylin is unable to get approval for Bydureon.”
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