The Food and Drug Administration refused to approve Amylin Pharmaceuticals Inc.'s (Nasdaq: AMLN) and Alkermes Inc.'s (Nasdaq: ALKS) diabetes treatment Bydureon until more testing was completed. Shares of Amylin plummeted $8.98 to $11.51 while Alkermes stock plunged $3.62 to $10.88.
No FDA Approval For Amylin And Alkermes
October 20, 2010 at 14:15 PM EDT
