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Case Status:    SETTLED
On or around 01/03/2005 (Date of order of final judgment)

Filing Date: August 09, 2001

As reported by the Company’s FORM 10-K For The Fiscal Year Ended December 31, 2004, on December 30, 2004, the court approved a negotiated settlement dismissing the lawsuit with prejudice. The terms of the settlement include payment by the Company of $2.1 million, all of which will be paid by the Company’s insurer. Any settlement proceeds remaining after full reimbursement to class members and payment of plaintiff legal fees will be donated to the American Diabetes Association.

According to a press release dated August 6, 2004 Amylin Pharmaceuticals announced that it has agreed to settle a 2001 securities class-action lawsuit for $2 million. Under the settlement, which still must be approved by the court, the company's insurer would make $2 million available in an account to settle any class members' claims. The company continues to deny the lawsuit's allegations that it made false and misleading statements about its lead diabetes therapy, Symlin. Chief executive Ginger Graham, told investors that the company decided to settle to avoid additional legal expense and the ongoing distraction of litigation.

The original complaint charged Amylin and its Chief Executive Officer with violations of the Securities Exchange Act of 1934, alleging that the public announcements and statements made during the Class Period were materially false and misleading. Shortly after the complaint was filed, the Food and Drug Administration gave the company a so-called "approvable letter". Rather than approving the drug, the letter asked for additional data on the drug. The company has since submitted that additional information and received a second approvable letter on Symlin. Graham said yesterday that the company is continuing to work with the FDA to answer questions on the drug.

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