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Amylin Pharmaceuticals acquires facility in Ohio
West Chester to be site of company's Exenatide LAR production

Ohio Lt. Governor Bruce Johnson today welcomed news that Amylin Pharmaceuticals has selected a location for a new production facility in West Chester, located in Butler County. The facility will be used to manufacture medication to treat diabetes.

“Amylin’s choice of West Chester shows their confidence in Ohio’s workforce and in our business climate,” said Johnson, who also serves as director of the Ohio Department of Development. “Amylin is exactly the type of high-tech company we want here, helping grow Ohio’s biosciences industry.”

Amylin announced it has acquired an existing 150,000 square foot building and 26 acres of land on Trade Port Drive in West Chester. It will upgrade the facility for the purposes of pharmaceutical production. Based in San Diego, Amylin is establishing its first production facility for a long-acting release (LAR) formulation of exenatide, a product candidate in development for the treatment of type 2 diabetes. The $70 million project is expected to create more than 50 jobs during its first three years of operation.

“Ohio's business climate, including its recent tax reform was a favorable influence on Amylin's decision to locate in Butler County,” said Ginger L. Graham, President and CEO of Amylin Pharmaceuticals. “Along with the industry group Omeris, the local and state agencies really have collaborated to make this an easy choice for Amylin.”

Ohio was in competition with Kentucky, North Carolina, Massachusetts and California for the project, which was aggressively pursued by the Ohio Department of Development and local officials. In addition to local incentives, ODOD offered more than $3 million in incentives, including tax credits and exemptions and grants for machinery, equipment and training. Amylin will also benefit from Ohio’s new tax structure, which is eliminating taxes on tangible personal property and profits, reduces personal income tax by 21% and exempts taxes on sales to destinations outside Ohio.

“We are pleased to welcome Amylin to the growing list of elite pharmaceutical and biotechnology firms expanding or relocating to Ohio,” said Tony Dennis, president of Omeris, Ohio’s bioscience development organization. “We think Amylin’s expansion in Ohio is a harbinger as well as a continuing validation of Ohio’s bioscience value. The global bioscience and pharmaceutical industries have realized that Ohio presents a unique and ideal environment for growth.”

According to Omeris, Ohio is home to nearly 600 bioscience-related companies, including nearly a dozen pharmaceutical manufacturers such as Procter & Gamble, Patheon, Roxane Laboratories, and Ben Venue Laboratories. Roxane and Ben Venue, both divisions of Boehringer Ingelheim, the world’s largest privately held pharmaceutical company, are in the midst of significant expansion. Research and clinical capabilities, both highly valued by growing biotech and pharmaceutical companies, are robust throughout Ohio. In FY2004, Ohio institutions earned $691.5 million in funding from the National Institutes of Health, tops in the Midwest. And for the past three years, U.S. News & World Report has honored more hospitals in Ohio as "America’s Best” than in any other state.

The Amylin announcement follows another significant Ohio bioscience business achievement in the Greater Cincinnati area. AtriCure, maker of soft tissue surgical devices, launched an IPO in August, issuing 4 million common shares with gross proceeds of $49.8 million. “The recent changes to Ohio’s business climate, coupled with announcements like the one Amylin has made, make it clear that when it comes to helping bioscience companies succeed, Ohio means business,” said Johnson.

Amylin Pharmaceuticals is a biopharmaceutical company committed to improving lives through the discovery, development and commercialization of innovative medicines. Further information on Amylin and its pipeline in metabolism is available at www.amylin.com.

On December 9, 2005 in London, Amylin was awarded the inaugural SCRIP award for the Biotech Company of the Year, for bringing to market two novel antidiabetic drugs.

Omeris is a non-profit organization supported by the Thomas Edison Program of the Ohio Department of Development. Its mission is to accelerate bioscience discovery, innovation and commercialization of global value, driving economic growth, and improving quality of life in Ohio. Omeris is headquartered in Columbus, with regional business development affiliates in Cleveland, Columbus, Cincinnati and Athens.