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Amgen's MariTide: Promising Obesity Drug with Surging Shares

Amgen's MariTide: Promising Obesity Drug with Surging Shares

Amgen's New Obesity Drug MariTide Shows Promising Results, Shares Skyrocket

Amgen's Shares Surge Following Positive Clinical Trial Update

Amgen, a leading pharmaceutical company, saw a significant rise in its share prices during premarket trading in New York. This surge followed the company's announcement of promising clinical trial results for its new injectable weight-loss drug, MariTide.

MariTide to Compete with Existing Weight-loss Drugs

MariTide is set to compete with Eli Lilly & Co's Zepbound and Novo Nordisk A/S' Wegovy, both of which are currently leading the weight-loss drug market. Bloomberg Intelligence recently estimated that the weight-loss drug market could surpass $80 billion in annual sales by 2030.

Amgen Recognizes the Growing Interest in Obesity Treatments

On a recent earnings call, Amgen CEO Robert Bradway acknowledged the growing interest in obesity treatments. He expressed confidence in MariTide's unique profile and its potential to address significant unmet medical needs.

Amgen Plans for Comprehensive Phase 3 Trial

Amgen anticipates releasing data from the ongoing Phase 2 study later this year and has plans for a comprehensive Phase 3 trial to follow. If approved, MariTide would require patients to self-administer the medication once a month, or possibly even less frequently than current weight-loss drugs on the market. The company has abandoned plans for an oral form of the drug.

Amgen's Shares Reach Near-Record High

Amgen's shares jumped nearly 15% to $319, nearing a record high, in premarket trading. If these gains hold, a 15% increase would mark the largest intra-day move since July 20, 2005. If the gains surpass this level, it would be the largest single-day gain since October 30, 1987.

Competitive Threat Between Eli Lilly and Novo Still Uncertain

Barclays Plc analyst Emily Field has stated that it's too early to determine the competitive threat between Eli Lilly and Novo. Despite this, Novo's shares in Copenhagen fell by 4% on Friday. Field maintains that more data is needed to assess the competitive dynamics against the market leaders.

Closing Thoughts

The development and potential approval of Amgen's new weight-loss drug, MariTide, could significantly reshape the obesity treatment market. However, it's still early days, and much will depend on the data from the ongoing and future trials. What are your thoughts on this development? Do you think MariTide could become a game-changer in the weight-loss drug market? Feel free to share this article with your friends and engage in a discussion. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.

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Some articles will contain credit or partial credit to other authors even if we do not repost the article and are only inspired by the original content.

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