Amylin Pharmaceuticals, Inc.'s Sales Force Strategy

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In the first year of its launch, Symlin and Byetta had net product sales of US$11.5 million and US$75.2 million respectively.

According to the company, more than 25,000 of the 40,000 physicians initially targeted had prescribed Byetta... A Flawed Sales Force Strategy? Amylin's sales force strategy came in for a lot of criticism. "We believe management's sales strategy is not working and the board has not addressed this failure," stated Eastbourne Capital. Eastbourne Capital contended that, while both its older and newer competitor brands (such as Actos, Lantus, and Januvia) were showing good growth, Byetta's sales growth had slowed down considerably as early as 2006 and continued to show a sequential drop in new prescriptions (NRx) in many of the months that followed...

However, some analysts felt that the sales force productivity figures of Amylin were not as bad as they were being made out to be. "You can take the analysis with a pinch of salt because Eastbourne is using it to convince shareholders that Amylin management is lousy enough to be replaced with its own slate of directors," said Jim Edwards, the Pharma Insights writer at BNET...

Exhibit I: Amylin's Selected Financial Data: 2004-2008
Exhibit II: Key Milestones at Amylin
Exhibit III: Year-on-year Growth in TRx of Byetta, Lantus and Januvia
Exhibit IV: Sales Force Productivity* of Amylin: Q1 2008-Q12009
Exhibit V: Sales Force Productivity* of Amylin Compared to Other Companies of its Size: Q1 2009
Exhibit VI: Data Presented by Icahn Showing How Byetta had Not Lived up to its Potential
Exhibit VII: Amylin's Consolidated Statements of Operations (unaudited)
Exhibit VIII: Some Drug Companies Ranked by Sales Force Productivity*

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