Amylin rated at neutral by Merrill

Merrill Lynch analyst Tom McGahren gave Amylin Pharmaceuticals Inc. a neutral rating as the company, in conjunction with Eli Lilly's quarterly report, pre-announced second-quarter Byetta net sales of $99 million, a 46% increase from the first quarter. The Byetta sales beat the analyst's estimate of $84 million and Street consensus of $85 million. Shares of the San Diego-based biopharmaceutical company were down $3.70, or 7.49%, at $45.71 on volume of 5,166,360 shares versus the three-month running average of 2,750,430 shares. (Nasdaq: AMLN)

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