GLP-1 Scripts continue to grow. Bodes well for eventual Bydureon conversion of Victoza scripts

Competitor Insulin drug Victoza, by Novo, continues to grow the GLP-1 market up 37% since launch in January . According to Barclays, a part of this growth will be converted to Bydureon use when launched. At one large practice they surveyed with 250 eligible GLP-1 users, only 11 started Victoza with the rest waiting for once weekly Bydureon. As expected, Byetta scripts continue to decline as the market awaits Bydureon. Nevertheless, Victoza launch is still lagging Byetta's launch trajectory. Market share is 70% Byetta 30% Victoza. NRx share is 62% to 38%.   The clock is ticking on Bydureon Approval, though the PDUFA date is Oct 22nd, the options market has priced in an earlier approval.

Technically, AMLN, with a relative strength of 93 is pushing out of $18-$20 range its been locked in for 50 trading days. Accumulation/Distribution is surging upward during this sideways price period.