Amgen's peek at its GLP-1 drug trial results heightens competition in obesity market
Amgen's peek at its GLP-1 drug trial results heightens competition in obesity market
Amgen revealed promising phase II trial results for its GLP-1 injectable drug, MariTide, aimed at treating obesity, causing its stock to surge by over 13%. This announcement places Amgen as a potential competitor to established market leaders like Novo Nordisk's Wegovy and Eli Lilly's Zepbound. Despite the positive update, full trial data is still awaited to fully assess MariTide's market potential.
The impact of Amgen's announcement was felt across the market, with shares of Novo Nordisk and Eli Lilly experiencing declines. Amgen also disclosed the discontinuation of its obesity pill project, while exploring MariTide's application for diabetes treatment. This strategic shift reflects the intense competition and high stakes in the pharmaceutical industry's pursuit of effective obesity and diabetes treatments.