Amgen’s MariTide, a potential new obesity treatment, showed promising weight loss in Phase 2 trials, but fell short of Wall Street expectations, causing a significant drop in AMGN stock price. The drug demonstrated up to 20% weight loss but lacked the 25% some analysts predicted.
A Cantor analyst highlighted potential bone density concerns with Amgen’s MariTide, a promising weight loss drug. The analyst pointed to data from a Phase 1 study showing a decrease in bone mineral density at the highest dose. However, Amgen and Goldman Sachs have downplayed the concerns, citing other data and the common occurrence of BMD reduction with rapid weight loss. The stock experienced a dip but recovered, with analysts remaining optimistic about MariTide’s potential.
Amgen’s rocatinlimab, an experimental drug for atopic dermatitis, showed positive results in Phase 3 trials, but the data fell short of expectations. Despite this, Goldman Sachs remains optimistic about the drug’s commercial potential due to its favorable safety profile and large target market. Amgen also reported updates on Uplizna for generalized myasthenia gravis. The stock is currently down but analysts maintain a Buy rating, with eyes on Amgen’s obesity drug AMG 133 data expected later this year.
Amgen Inc (AMGN) announced positive results from Phase 3 trials for its eczema treatment, rocatinlimab, and myasthenia gravis treatment, Uplizna (inebilizumab). While rocatinlimab showed improvement over placebo, it fell short of existing competitors like Dupixent. Uplizna, however, exceeded expectations and has potential in the myasthenia gravis market due to its less frequent dosing and potential to reduce steroid use.
Regeneron Pharmaceuticals has appealed a court decision that allowed Amgen to proceed with the sale of its biosimilar version of Eylea, a blockbuster drug for eye conditions. The move comes after Regeneron failed to secure a preliminary injunction to block Amgen’s biosimilar, Pavblu, from entering the market.
Apple led the gainers with a 7% surge after reporting strong earnings and a massive share repurchase. Amgen and Block also gained significantly, while Fortinet, Cloudflare, and Expedia faced declines.
Sandoz AG and Amgen Inc have reached an agreement to resolve all patent litigation related to Sandoz’s U.S. denosumab biosimilars, Jubbonti and Wyost. The agreement clears the way for the launch of these biosimilars on May 31, 2025, or earlier under certain circumstances.
Sandoz received FDA approval for Jubbonti and Wyost, the first and only denosumab biosimilars, in March 2024. These biosimilars are interchangeable with and approved for all indications of the reference medicines, Prolia and Xgeva. Patent infringement proceedings were initially filed by Amgen in May 2023, alleging that Sandoz infringed on up to 21 patents protecting Prolia and Xgeva. The litigation has now been resolved.
