Amgen’s (AMGN) once-monthly GLP-1, which experts expect to be a game changer in the weight-loss space, is showing continued promise as it advances in clinical trials.
The company reported 20% weight loss from the drug MariTide in patients after 52 weeks in a phase II study. By comparison, current market leaders Eli Lilly (LLY) and Novo Nordisk (NVO) have products that provide weight loss between 14% and 24%. Analysts on an investor call with Amgen Tuesday morning characterized the data as “in line” with the currently available products.
A key difference in the data is less serious side effects, such as nausea and vomiting, over time compared to the Lilly and Novo products, which means the tolerability of the drug for patients will be greater — in addition to the added convenience of administering the drug just once a month.
The study looked at a steady increase in doses over time, in both diabetics and those without type 2 diabetes who were overweight.
Weight loss did not plateau, Amgen said, which has encouraged the company to pursue studying the drug’s long-term potential as a “maintenance” drug, with a longer period between each dose. The study already began looking at the difference between three options: a monthly dosage, a twice-monthly dosage, and a quarterly dosage.
That could reduce the burden of taking the drug from current once-weekly injectables and has been viewed as a game changer for the burgeoning weight-loss market. But the data revealed Tuesday didn’t impress Wall Street.
Mizuho’s healthcare sector expert Jared Holz said that, on the surface, the data would draw more interest, but because Amgen is late to the weight-loss market — with a phase III trial still needed — it is at a disadvantage.
In addition, “AMGN did not disclose which dose it plans to move forward, but would guess that the higher doses are driving better weight loss so need to consider how the side effect profile looks in these specific formulations,” Holz wrote in a note to clients.
Amgen’s stock was down more than 11% in premarket trading on the news, with shares trading at $260.
Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics. That includes GLP-1s, of course. Follow Anjalee on most social media platforms @AnjKhem.
