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Amylin and Biocon to partner on diabetes drug

Amylin and Biocon say they will work together to develop diabetes drug combining 2 hormones

  • On 5:43 pm EDT, Thursday September 10, 2009

NEW YORK (AP) -- Amylin Pharmaceuticals Inc. said Thursday it will partner with Biocon Ltd. of India to develop and market a biotech diabetes drug.

Terms of the collaboration were not disclosed. The companies said they will share development costs. Amylin, of San Diego, will provide technology that can combine two hormones into one drug, while Biocon will manufacture the product and provide experience in developing diabetes treatments.

In aftermarket trading, Amylin shares rose 9 cents to $12.60 from. In the regular session, the stock gained 3 cents to close at $12.51.

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