Amgen Shares Drop 7% as Early Trial Data On Weight Loss Drug Raises Safety Concerns, Sparking Mixed Analyst Reactions

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.