Amylin issues letter to shareholders regarding board of directors

5/1/2009

SAN DIEGO Drug maker Amylin Pharmaceuticals is urging shareholders to reject prospective members of its board nominated by investor Carl Icahn and Eastbourne Capital Management.

Amylin sent a letter to shareholders Friday, signed by president and CEO Daniel Bradbury and lead independent director James Wilson, requesting that they instead vote for the company’s current board, saying the company was “poised to revolutionize” Type 2 diabetes treatment with the once-weekly formulation of the drug Byetta (exenatide), currently awaiting approval by the Food and Drug Administration. The FDA approved the twice-daily formulation of the drug in 2005.

“To ensure that you benefit from this value opportunity, it is imperative that Amylin has the best possible board of directors,” Bradbury and Wilson wrote in the letter.

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