Hope for the diabetes drug Bydureon -- developed by Amylin Pharmaceuticals (AMLN) Eli Lilly (LLY) and Alkermes (ALKS) -- has ebbed and flowed over the past year. Last October the drug a once-weekly version of Amylin’s Byetta to control blood-sugar levels was rejected by the Food and Drug Administration. Earlier this year a head-to-head study with Novo Nordisk’s (NVO) already-approved Victoza showed the rival drug worked better. (See Amylin’s Bydureon Bombs.) Just yesterday Lilly and Amylin said studies show diabetics on Bydureon can reduce cardiovascular risks such as high blood pressure. The research is being submitted at a major diabetes ...