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Amgen cholesterol drug sales soar, weight-loss drug trials advance
1 May
Summary
- Amgen's Q1 product sales increased by 4% driven by strong demand for key medicines.
- Experimental weight-loss drug MariTide is progressing through multiple Phase 3 trials.
- Autoimmune drug Tavneos faces FDA proposed withdrawal due to effectiveness concerns.
Amgen announced a 4% increase in first-quarter product sales, attributing the growth to strong demand for its cholesterol and rare disease treatments. The biotech firm's adjusted earnings per share saw a 5% rise, surpassing analyst expectations.
Central to Amgen's future growth is its experimental weight-loss drug, MariTide. The company is actively conducting a broad range of Phase 3 trials for MariTide, investigating its efficacy in obesity and related conditions like heart disease and sleep apnea. New studies are also comparing MariTide against weekly GLP-1 drugs.
In contrast, Amgen's autoimmune disease drug, Tavneos, is under scrutiny. The U.S. Food and Drug Administration has proposed withdrawing its approval, citing concerns over effectiveness and application statements. Amgen is engaging with the FDA and has proposed label amendments to address liver toxicity concerns.
Despite mixed results for some products, including a decline in osteoporosis drug Prolia sales, Amgen has slightly raised its full-year outlook for adjusted earnings per share and revenue. Cholesterol drug Repatha sales were a standout performer, increasing by 34%.
