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Diabetes Drug Company losing less

Diabetes drug and biotechnology firm Amylin Pharmaceuticals Inc. claimed that their second-quarter losses have now narrowed. This is largely due to sales of the diabetes drug Byetta.
The figures are improving for the company, but a substantial loss is still being made. The company lost $45 millio, approximately 34 cents per share . Revenue climbed to $197 millio, largely aided by diabetic medication Byetta. Another drug for diabetics, Symli, generated revenue of $15.2 million.
Revenue from collaborative agreements was also found to surge. Eli Lilly and Co are co-releasing Byetta in the European Unio, and milestone payments between the two companies are aiding Amylin fortunes.
Byetta faces stiff resistance from a Merck rival drug, Januvia.

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