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Here Are the Obesity Drug Hopefuls Vying to Unseat Ozempic, Zepbound [BNN Bloomberg (Canada)]
Last amgen inc. earnings: 4/30 04:01 pm
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US:NASDAQ Investor Relations: investors.amgen.com
After Amgen Inc.'s chief executive officer, Robert Bradway, said he was “very encouraged” by early results of an experimental obesity shot, the stock on Friday leapt 16%, its biggest gain since 2009. That's despite no new data being released on the drug — which is in mid-stage trials — and before the approval process has even begun. The CEO's upbeat remarks not only lifted Amgen shares, but also sent Novo Nordisk A/S, the Danish maker of hit drugs Wegovy and Ozempic, tumbling by more than 5%. Eli Lilly & Co., which makes weight-loss shot Zepbound, fell almost 3% in early trading Friday. The potential size of the obesity drug market helps explain the excitement: Analysts at Goldman Sachs forecast it could hit $100 billion by 2030. Optimism over soaring sales has driven Novo Nordisk's market capitalization above $500 billion this year, reinforcing its position as Europe's most valuable listed company. Lilly's shares are up more than 75% in the past 12 months. Novo and Lilly are l
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