NVO - Amgen Could Become A Real Contender In The Obesity Market
2024-05-04 09:13:02 ET
Summary
- Amgen's shares surged after management's earnings call comments about the phase 2 trial of obesity candidate MariTide.
- These comments and previous phase 2 data point to the increasing possibility of Amgen becoming a real contender in the rapidly expanding obesity market.
- MariTide would be a good start for Amgen but additional solutions may be required to remain relevant in the obesity market in the long run.
- First quarter results were in-line with a slight increase in the full-year revenue and EPS guidance ranges.
Shares of Amgen ( AMGN ) surged after the company reported first quarter results, but the gain was largely driven by management comments related to the phase 2 trial of the long-acting obesity candidate maridebart cafraglutide (which was previously called AMG133), or MariTide as it is conveniently called. No results were reported, but the comments about the interim look from the phase 2 trial sounded very bullish and the company is planning to rapidly advance a broad phase 3 program in obesity, type 2 diabetes and adjacent indications....
Amgen Could Become A Real Contender In The Obesity Market