Amgen stock took a hit on Monday as it was revealed that their experimental weight-loss drug showed the potential for significant weight loss in patients up to 150 days. In one study, patients lost an average of 8.2% of their body weight over 92 days at the highest dose, and in another study, patients lost 14.5% body weight over 85 days with the regimen increasing to the highest dose. However, all patients who received the highest dose in the second study reported nausea, and three-quarters experienced vomiting. As a result, half of the high-dose group dropped out of the study after the first dose.
On the other hand, Eli Lilly saw its stock reach a record high, indicating the growing demand for weight-loss drugs. Eli Lilly and Novo Nordisk have already seen significant increases in their stock prices due to the burgeoning weight-loss craze. Novo Nordisk’s stock also rose due in part to Novo Holdings’ acquisition of Catalent. This stock market activity suggests a growing interest in weight-loss drugs and a possible shift in the industry, which is currently dominated by Lilly and Novo Nordisk.
This shows that there is room for more competitors in the market and that Novo has been struggling to keep up with production demand. Despite the promising results from Amgen, analysts do not expect the company to launch an obesity treatment until at least 2028. Meanwhile, Amgen’s stock is also doing well and is currently trading at a record high, even though their potential obesity treatment is still in the early stages.