BOSTON-Partners Alkermes Inc. (ALKS:9.15, +1.30, +16.6%) and Amylin Pharmaceuticals (AMLN:11.99, +0.41, +3.5%) rallied early Tuesday on news that they had filed for U.S. regulatory approval for their new long-acting diabetes medication exenatide LAR. The Amex Pharmaceutical Index ($DRG:242.14, +0.37, +0.2%) , meanwhile, was largely flat at 241.67 and the Amex Biotechnology Index ($BTK:625.36, -8.39, -1.3%) retracted 0.5% to 630.68. Likewise, the Dow Jones Industrial Average hovered near the flat line at 8,431. Shares of Alkermes shot up 21% to $9.47, while Amylin shares climbed 6% to $12.25. Shares of Eli Lilly & Co. (LLY:34.32, +0.51, +1.5%) , which is also a partner for exenatide, were up 1% at $34.07.
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