Amylin and Eli Lilly (LLY) have said they are expecting the FDA to decide soon whether to approve a once-weekly version of diabetes drug Byetta. The drug is made at the Ohio facility. By 5:30 p.m. EST Friday, there was still no word on approval.

Amylin Pharmaceuticals (AMLN) was cited by the FDA for problems at one of its plants. The FDA didn't issue an expected ruling on an extended-release version of the diabetes drug Byetta. Shares fell 4.4% to 20.26. ...

While the broad market sold off the past four weeks and fell below the 10-week moving average, biotech ETFs held their heads above that key line. In doing so, the biotech ETFs resisted the market's downward pull and outperformed all of the S&P 500's 10 sectors. The S&P 500 has fallen 7% ...

Amylin (AMLN), Eli Lilly (LLY) and Alkermes (ALKS) said the FDA accepted their application for the once-a-week diabetes drug exenatide. Shares of all three companies rose in late trading. ... [Read the full article]

According to a recent report by consulting firm Towers Watson, 45% of large employers subsidize retiree health care coverage in some form.

Another change arises from government pressure on insurers who sell Medicare Advantage policies to over-65s. Medicare Advantage is a bundle of health benefits that retirees can buy from insurers, with Medicare reimbursing the insurance companies.

The administration says that Medicare overpays private insurers by an average of 14% — more in rural areas — to get seniors the same benefits as traditional Medicare. Money to pay insurers comes out of the overall Medicare budget.

The Centers for Medicare & Medicaid Services is already squeezing Medicare Advantage payments to insurers. It has proposed an increase of just 1.38% in payments for Medicare Advantage in 2011. [Read the full article]

That's the formula that's working well these days for Liberty Global, a major cable and Internet access player in Europe. Liberty reported good fourth-quarter results in late February, showing strong gains in subscribers and free cash flow.

But it's some of the other moves Liberty has made that have helped propel the stock from just under 22 to over 27 since the year began.

Behind those moves sits U.S. cable mogul John Malone. Apart from holding the title of chairman of the board, Malone holds a special class of stock that carries 10 votes apiece.

Analysts estimate Malone now holds 30% of voting power at Liberty. But they are loath to pin a specific number on his voting power because it just keeps growing.

As the company buys back shares, the total number of outstanding shares sinks. This does wonders for both the value and voting power of Malone's shares. [Read the full article]

Home furnishing retailers saw year-over year earnings drop in 18 of 19 quarters spanning the third quarter of 2004 through the second quarter of 2009, according to Ken Perkins, president of research firm Retail Metrics.

While the group's performance is still nothing to write home about, the top publicly traded home furnishings retailers have seen earnings rebound sharply from last year's depressed levels.

Though better known for its physical stores, Williams-Sonoma has become a big player in online retail as more shoppers turn to the Web. AP View Enlarged Image

When fourth-quarter numbers are in, earnings are expected to be up 192%, based on already-reported results and analysts' estimates. That compares with a 65% drop in earnings in fourth quarter of 2008.

"The climate has improved significantly from this time last year," said Perkins in an e-mail. [Read the full article]