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CORRECTED - UPDATE 1-Amylin posts wider second-quarter net loss

Tue Jul 22, 2008 12:26pm EDT

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(Corrects paragraph 4 to say revenue came close to Wall Street estimates, instead of beating)

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LOS ANGELES, July 21 (Reuters) - Amylin Pharmaceuticals Inc (AMLN.O) reported a wider quarterly loss on Monday, hurt by higher expenses.

The San Diego-based biotechnology company posted a second-quarter net loss of $64.8 million, or 47 cents per share, compared with a loss of $45 million, or 34 cents per share, a year ago.

Wall Street analysts, on average, expected a loss of 49 cents per share, according to Reuters Estimates.

Revenue rose nearly 13 percent to $222 million, close to analysts' target of $224.3 million. Net sales of diabetes drug Byetta, which Amylin co-markets with Eli Lilly and Co (LLY.N), rose 17 percent to $177.5 million.

Shares of Amylin, which closed up 3.3 percent at $26.60 on Nasdaq, were little changed at $26.58 in after-hours trading. (Reporting by Deena Beasley; editing by Jeffrey Benkoe)

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