Diabetes drug company sales fall

Reports on the global diabetes industry news indicate that drug company Amylin Pharmaceuticals has suffered from poorer-than-expected sales of diabetic drug Byetta.
The pharmaceutical company reported a loss of $68.8 million, worse than that predicted by analysts, despite revenue climbing to $197.2 million. The company were understood to be disappointed with their results.
One of their major competitors, Merck, unveiled the relative success of type 2 diabetes drug Januvia. In response to the news, Amylin lowered revenue guidance for 2008.
The global diabetes industry is a competitive market, with numerous companies selling a variety of different drugs for diabetics . These companies include giants such as Glaxo SMith Kline and Novo Nordisk, not to mention much smaller biotechnology companies.