Amgen’s MariTide Sends Stock Soaring: Positive Trial Results Update
Amgen’s stock surged more than 13% in trading on Friday following positive trial results for its GLP-1 injectable for obesity, MariTide. CEO Bob Bradway provided insights into the phase II results during the company’s earnings call on Thursday, expressing confidence in MariTide’s potential to address unmet medical needs.
Differentiated Profile
While details on what sets MariTide apart from existing products were not elaborated upon, Bradway emphasized the drug’s differentiated profile. Final phase II results are anticipated later this year, with phase III trials yet to commence.
Impact on Competitors
Novo Nordisk and Eli Lilly, market leaders with drugs Wegovy and Zepbound, respectively, saw declines in their stock prices on Friday. However, analysts caution that further data is required to fully evaluate MariTide’s potential role in the obesity treatment landscape.
Shift in Strategy
Amgen’s decision to halt plans for an obesity pill reflects the intensifying competition in the market, with companies like Novo, Lilly, and Pfizer also developing options. Additionally, Amgen is exploring the use of the same drug to treat diabetes, reversing the typical market approach.
Competition and Innovation
Both Novo Nordisk and Eli Lilly remain focused on innovation and expanding the applications of their existing products. Novo, in particular, has seen success in obtaining coverage for cardiovascular benefits with Wegovy and is exploring additional treatments such as kidney disease. Meanwhile, Lilly is testing Zepbound for sleep apnea.
Future Outlook
Despite increasing competition, both Novo Nordisk and Eli Lilly remain confident in their market positions. They continue to invest in next-generation products and explore new applications for their existing drugs to meet the growing demand.
