Amgen Shifts Focus to Injectable Obesity Drug MariTide Amid Weight Loss Pill Challenges

LOS ANGELES, CALIFORNIA — Amgen announced on Thursday that it will discontinue the development of its experimental weight loss pill, opting instead to advance its injectable drug, MariTide, and other preclinical assets targeting obesity. This decision places Amgen among the pharmaceutical companies vying for a share of the burgeoning weight loss drug market, which analysts project could reach $100 billion by the decade's end.

Amgen’s Chief Scientific Officer, Jay Bradner, highlighted the company's strategic pivot during an earnings call, stating, “Given the profile we’ve seen with [the oral drug], we will not pursue further development. Instead, in obesity, we’re differentially investing in MariTide and a number of preclinical assets.”

MariTide, currently undergoing a midstage trial in obese or overweight adults without diabetes, has shown promising results. Amgen is collaborating with regulators to initiate a late-stage trial and is also planning a stage two trial for diabetes treatment. This news spurred a 10% rise in Amgen’s shares during extended trading on Thursday.

The decision to halt the development of its oral drug, AMG-786, follows similar challenges faced by Pfizer, which discontinued its twice-daily obesity pill, danuglipron, last December due to patient intolerance. Pfizer is now developing a once-daily version.

Amgen aims to distinguish itself in the competitive weight loss drug market with MariTide, which operates differently from existing treatments like Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound. While these drugs activate the gut hormone receptor GLP-1 to regulate appetite, Amgen’s treatment also blocks the hormone receptor GIP, a unique approach that may enhance the body’s ability to process sugar and fat.

Early data suggest that MariTide could help patients maintain weight loss after discontinuation and offers potential convenience advantages, with dosing intervals as long as once a month. In a phase one trial, patients receiving the highest dose of MariTide—420 milligrams monthly—lost an average of 14.5% of their body weight over 12 weeks, according to results published in Nature Metabolism.

Amgen’s first-quarter financial results also exceeded Wall Street expectations, with the company reporting revenue of $7.45 billion and adjusted earnings per share of $3.96, surpassing analyst forecasts. This performance was bolstered by products from the recently acquired Horizon Therapeutics, contributing $914 million in revenue, including the thyroid eye disease treatment Tepezza.

Excluding Horizon Therapeutics products, Amgen’s product sales grew by 6%, with ten products achieving double-digit volume growth, including cardiovascular drug Repatha, severe asthma treatment Tezspire, and Blincyto, a therapy for a specific type of blood cancer.

Amgen has slightly adjusted its full-year guidance, now expecting revenue between $32.5 billion and $33.8 billion, compared to the previous range of $32.4 billion to $33.8 billion. The company also anticipates a full-year adjusted profit of $19 to $20.20 per share, aligning closely with analyst expectations of $32.95 billion in revenue and an adjusted profit of $19.48 per share.

As Amgen continues to navigate the competitive landscape of obesity treatments, its focus on innovative approaches like MariTide positions the company to potentially capture a significant portion of the market.