Diabetes drug review causes share climb

Shares in diabetes drug company Amylin Pharmaceuticals soared yesterday after the American Food and Drug Administration (FDA) made the decision to review the once-weekly diabetes drug Exenatide LAR.
Exenatide is a type of Byetta, the twice-daily diabetes injection that helps control blood glucose levels in patients with type 2 diabetes . FDA criteria has become even more stringent following controversial linking of diabetes drugs with serious illnesses.
Exenatide LAR has several competitor products under development, including Novo Nordisk drug Liraglutide. Market analysts fear that Exenatide may need further results to get a clear decision from the FDA, allowing competitors the chance to catch up.
Recent diabetes news included stories linking a popular type of diabetes drug to an increased incidence of cancer .