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Amylin board headed for showdown: investors battling for control of the business.

Publication: San Diego Business Journal
Publication Date: 25-MAY-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Amylin board headed for showdown: investors battling for control of the business.(BIOTECH)(Amylin Pharmaceuticals Inc.)

Article Excerpt
Amylin Pharmaceuticals, a San Diego-based biotech often cited as one of the area's biggest success stories, could close a chapter this week on an ongoing saga that has pitted some of its biggest investors against it.

Besides the usual challenges of seeing a drug through the FDA approval process--often a decade's worth of work at a cost of almost a billion dollars--Amylin has faced a slew of circumstances that have led investors to question its leadership and abilities.

In the past few months, billionaire activist investor Carl Icahn and Eastbourne Capital Management, which together hold 22 percent of Amylin shares, have waged a proxy battle to gain control of the business.

In colorful slide presentations and accusatory...

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