BioPharma Dive May 3, 2024
A possible rival to Novo Nordisk’s and Eli Lilly’s medicines looks promising enough to move into late-stage testing, triggering a stock jump that added billions to Amgen’s market value.
Dive Brief:
- Amgen shares soared by double digits Friday following its announcement an obesity drug it’s developing has shown enough promise to warrant advancing into late-stage testing.
- On an earnings call with analysts Thursday, CEO Robert Bradway said the company is “confident” in the drug’s “differentiated profile” following an internal review of interim Phase 2 study results. Full data are expected by the end of the year and should support a subsequent move into Phase 3 trials, executives said.
- Yet Amgen’s drug is likely at least two years away from...
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