Amgen shares dropped over 7% Tuesday after bone density data from an early-stage trial of its weight loss drug, MariTide, raised safety concerns. The monthly injection stands out as a promising competitor by offering an alternative approach to the weekly treatments from Novo Nordisk and Eli Lilly. Analysts shared mixed reactions to the results. Wall Street anticipates Amgen’s phase two trial results for MariTide by year’s end, which could shed more light on its competitive potential in the weight loss market.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Amgen shares dropped over 7% Tuesday after bone density data from an early-stage trial
00:07of its weight-loss drug Meritide raised safety concerns.
00:11The monthly injection stands out as a promising competitor by offering an alternative approach
00:15to the weekly treatments from Novo Nordisk and Eli Lilly.
00:19Analysts shared mixed reactions to the results.
00:22Wall Street anticipates Amgen's Phase 2 trial results for Meritide by year's end,
00:27which could shed more light on its competitive potential in the weight-loss market.