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Pharmaceuticals

October 22, 1998

* Amylin Pharmaceuticals Inc. shares fell as much as 83% one day after the company reported a setback in its development of an experimental diabetes drug and said its stock may be delisted from Nasdaq. Shares of the San Diego-based company fell $2.25 to close at 69 cents. After the market closed Tuesday, the company said it had been notified that its stock doesn't meet the standards necessary to be listed on Nasdaq, because its shares have closed below $5 for more than 90 days. Amylin said it will fight the move by Nasdaq, and a hearing has been scheduled for mid-November. Meanwhile, the company said disappointing study results for its diabetes drug pramlintide will delay its bid for regulatory approval of the drug and force Amylin to slash its work force of about 190 people by 75%.

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