Merrill Lynch: Amylin still rated sell

Amylin Pharmaceuticals was maintained by Merrill Lynch analyst Thomas McGahren at a sell rating after use of oral diabetic drug Byetta by family practitioners went up to 21% in November from 6% in August. Merrill Lynch raised its Byetta sales estimates to $67 million from $60 million in 2005. But the stock is pricey and the sell rating is based on valuation, Merrill Lynch said. Shares of the San Diego biopharmaceutical company were up 21 cents, or 0.56%, at $37.61 on volume of 1,388,536 shares versus the three-month running average of 2,619,390 shares.

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