From CNBC: 2024-05-02 17:12:31

Amgen discontinues experimental weight loss pill, shifting focus to injectable drug and other products for obesity. Company developing injectable treatment, MariTide, in ongoing mid-stage trial and planning stage-two trial for diabetes. Amgen’s oral drug, AMG-786, is second weight loss pill to be discontinued in a year.

Amgen stands out with injectable treatment for weight loss, targeting appetite regulation with different approach than competitors. Drug shows promising results, with patients losing 14.5% of body weight on average in 12 weeks. Amgen reports solid first-quarter revenue and earnings, exceeding Wall Street’s expectations, boosted partly by acquired Horizon Therapeutics products.

First-quarter financial results show Amgen’s revenue up 22% from last year, with double-digit growth in key products like Repatha, Tezspire, and Blincyto. Company slightly narrows full-year guidance with expectations of $32.5 to $33.8 billion in revenue and adjusted profit of $19 to $20.20 per share. Analysts predict revenue of $32.95 billion and profit of $19.48 per share for Amgen.



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