Amylin still sell, Merrill Lynch says

Amylin Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Thomas McGahren at a sell rating after a potential competitor to Byetta showed positive phase 2b results. Liraglutide will likely compete favorably with Byetta, along with other competitors in development. The competitive landscape for the potential drug is becoming more complex, Merrill Lynch said. Shares of the San Diego drug developer were down 94 cents, or 2.45%, at $37.50 on volume of 1,400,646 shares versus the three-month running average of 2,950,550 shares.

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