The battle for the multibillion-dollar obesity market just got fiercer. Amgen Inc's AMGN new drug candidate, MariTide, reported promising results, helping patients shed around 20% of their body weight. But when up against the current titans — Eli Lilly And Co LLY and Novo Nordisk A/S NVO — "promising" may not cut it. Weight Loss: A Tough Market For Newcomers Eli Lilly and Novo Nordisk's drugs, Zepbound and Wegovy, aren't just treatments—they're juggernauts. Amgen's MariTide enters the fray with a unique ant ...

Core Viewpoint - Amgen will participate in Citi's 2024 Global Healthcare Conference on December 5, 2024, featuring key executives in a fireside chat format [1] Group 1: Conference Details - The conference will include Peter Griffith, Jay Bradner, and Susan Sweeney from Amgen [1] - The event will be webcast live and accessible to media, investors, and the public [1][2] - The webcast will be archived for at least 90 days post-event [2] Group 2: Company Overview - Amgen is a leader in biotechnology, focusing on innovative medicines for serious diseases [3] - The company has a robust pipeline targeting cancer, heart disease, osteoporosis, inflammatory diseases, and rare diseases [3] - Amgen has received multiple accolades in 2024, including being named one of the "World's Most Innovative Companies" and "America's Best Large Employers" [4][5] Group 3: Market Position - Amgen is part of the Dow Jones Industrial Average and the Nasdaq-100 Index, indicating its significant market presence [4][5] - The company has been recognized for its workplace culture and environmental leadership [5]

The biotech industry can be volatile even for relatively large companies. Amgen (AMGN 1.00%), one of the more prominent names in the game, just reminded us all of that fact. On Nov. 26, the company's shares dropped by as much as 12%. Unsurprisingly, the dip was due to clinical results the market filed under "not good enough." However, if Amgen can bounce back, now might be an excellent time for investors to scoop up its shares. Let's find out what the future holds for Amgen after its massive one-day drop. A ...

The market didn't appreciate Amgen's (AMGN 1.00%) latest clinical data update, with the biopharma's shares falling more than 12% at one point on Nov. 26 from the previous day's close, though they recovered to close just 4.7% down for the day. And, with shares of certain direct competitors, such as Eli Lilly (LLY 0.91%), rising, the prevailing assumption seems to be that one company's stumble is another's gain. But is the market's reaction appropriate, or is this a good opportunity to buy the dip? Let's take ...

Core Viewpoint - Amgen will participate in the 7th Annual Evercore HealthCONx Conference on December 4, 2024, featuring key executives in a fireside chat, with the event accessible via a live webcast [1][2]. Company Overview - Amgen is a biotechnology company that discovers, develops, manufactures, and delivers innovative medicines for serious diseases, leveraging over 40 years of industry experience [3]. - The company has a robust pipeline aimed at treating various conditions, including cancer, heart disease, osteoporosis, inflammatory diseases, and rare diseases [3]. Recognition and Achievements - In 2024, Amgen was recognized as one of the "World's Most Innovative Companies" by Fast Company and one of "America's Best Large Employers" by Forbes [4]. - The company is part of the Dow Jones Industrial Average and the Nasdaq-100 Index, highlighting its status among leading non-financial companies based on market capitalization [4][5]. - In 2023, Amgen received accolades such as "America's Greatest Workplaces" by Newsweek and "America's Climate Leaders" by USA Today [5].

Core Viewpoint - Amgen's stock has declined by 6% over the last 30 days, attributed to an unintentional disclosure of clinical trial data that raised concerns among investors [1][2] Group 1: Clinical Trial Data and Market Reaction - A Wall Street analyst discovered previously unnoticed data in Amgen's phase 1 trial results for the anti-obesity candidate MariTide, which indicated a 4% average loss of bone mineral density in patients receiving the highest dose [3][4] - Amgen stated that the phase 1 study results do not suggest any bone safety concerns and maintain confidence in MariTide's potential [5] - The loss of bone density could be linked to rapid weight loss or unrelated medical conditions, and the clinical investigators did not find the extent alarming [5][6] Group 2: Market Position and Future Outlook - Despite the recent data, there is no immediate emergency for shareholders, as existing anti-obesity medications also have side effects, yet continue to be sold [6][9] - Amgen's earnings per share rose by 62% to $5.22 in Q3, indicating strong performance from existing drugs and a positive growth outlook [9] - The company will need to reassure investors regarding MariTide, but the current data does not suggest increased risks for the program [10][11]

Key TakeawaysA new Amgen weight reduction drug, MariTide, has bred successful results after a 52-week study.Still, AMGN stock declined almost 5% on Tuesday as weight loss reduction was at the lower end of expectations.Register now to see our 7 Best Stocks for the Next 30 Days report - free today!Amgen (AMGN) announced the much-awaited 52-week top-line data from a phase II study on MariTide, its GLP-1 therapy being developed for obesity and related conditions.The data showed that MariTide led to sustainable ...

Brendan, a Pennsylvanian by birth:-Completed a Ph.D. at Stanford University in the field of organic synthesis (2009). -Worked for a major pharmaceutical company (Merck, 2009-2013).-Worked in biotech including start-ups (Theravance/Aspira) prior to securing employment at Caltech.-First employee and co-founder of 1200 Pharma as it spun out of Caltech garnering major investment (into the 8 figures).-Remains an avid investor, focused on market trends and especially biotechnology stocks.Analyst’s Disclosure: I/w ...

Core Viewpoint - Amgen's anti-obesity candidate MariTide showed a weight reduction of up to 20% after 52 weeks, but this result may not be sufficient to position it as a market leader in the weight management sector [1][5][6] Group 1: MariTide's Performance - MariTide is a GLP-1 agonist that also inhibits GIP receptors, but its phase 2 trial results were underwhelming compared to competitors like Eli Lilly's Zepbound, which achieved a 22.5% weight loss after 72 weeks [3][4][5] - Analysts had hoped that MariTide's mechanism of action would differentiate it from Zepbound, but the results suggest it may not be more effective [4][6] Group 2: Amgen's Overall Growth - Despite MariTide's performance, Amgen's overall product sales grew by 24% year over year in Q3, driven by the acquisition of Horizon Therapeutics [7] - Amgen's thyroid eye disease drug Tepezza generated $488 million in Q3 sales, indicating potential for growth in rare disease markets [8][9] - The company is currently testing 23 different molecules in phase 3 clinical trials, suggesting a robust pipeline for future growth [9] Group 3: Investment Considerations - Amgen's shares have fallen by about 7% in 2024, but the stock is trading at a reasonable valuation of 13.7 times the midpoint of management's earnings guidance for 2024 [10][11] - The company offers a 3.3% dividend yield and has a history of increasing its dividend payout, having raised it by over 40% since 2021 [11][12] - The lackluster results from MariTide should not deter investors, as Amgen has multiple growth drivers that could enhance its stock value [12]

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