Amylin still rated sell by Merrill Lynch

Amylin Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Thomas McGahren at a sell rating after Eli Lilly said it was aiming to present full data for exenatide LAR, the once-weekly version of Byetta, at the American Diabetes Association in June 2006. Preliminary data from a small phase 2 study was positive to the extent that it showed average A1C reduction of about 2% versus placebo, but Merrill said it will watch for further details. Shares of the San Diego drug development company were up 53 cents, or 1.41%, at $38.14 on volume of 728,865 shares versus the three-month running average of 2,414,400 shares.

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