Amylin CEO sees once-weekly sales surpassing Byetta

* Says once weekly a significant opportunity over Byetta

* Says FDA requires no new toxicology studies

* Says approval could come in first half of 2010

By Bill Berkrot

NEW YORK, June 9 (Reuters) - Amylin Pharmaceuticals Inc's (AMLN.O: Quote, Profile, Research) chief executive said he expects eventual sales of the company's experimental once-weekly diabetes medicine to be significantly higher than those of Byetta, a version of the drug that must be injected twice a day.

Amylin CEO Daniel Bradbury, speaking on Tuesday at the Goldman Sachs Healthcare Conference, declined to give specific forecasts for the sales potential of exenatide once weekly, which is awaiting a U.S. approval decision.

But taking into account the convenience advantage over regular Byetta, plus better efficacy, tolerability and cardiovascular profile, Bradbury said, "exenatide once weekly represents a significant opportunity over and above what we've seen with Byetta."

He noted that Byetta, an injected drug, has annual sales of about $700 million. That represents just 2 percent of the oral diabetes market.

Byetta, the first approved drug from the GLP-1 analog class of Type 2 diabetes medicines that work by stimulating release of insulin only when blood sugar levels are high, is co-marketed with Eli Lilly and Co (LLY.N: Quote, Profile, Research).