Amgen is among several drugmakers racing to join the red-hot weight loss drug space dominated by Novo Nordisk and Eli Lilly.
on Thursday said it will stop developing its experimental weight loss pill and instead move forward with its injectable drug and other products in development for obesity.The announcement is a setback for Amgen, which is among several drugmakers racing to join the red-hot weight loss drug space dominated by, which some analysts say could be worth $100 billion by the end of the decade. But the company has other opportunities to capture a slice of the market.
Investors are laser-focused on Amgen's pipeline of experimental weight loss treatments. Amgen hopes to stand out among the crowded field of potential players with a different approach. Amgen's injectable treatment also appears to help patients keep weight off after they stop taking it based on some clinical trial data. The drugmaker is also testing its drug to be taken once a month or even less frequently, which could offer more convenience than the weekly medicines on the market.
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