Amgen Inc. experienced a significant increase in market value, adding $22 billion after announcing positive mid-stage data and Phase III plans for its obesity drug MaritTde, despite dropping an oral program. The biotech giant, valued at $150 billion, has seen its stock become a focal point for day traders, especially reacting to updates from an ongoing Phase 2 trial. The company's stock was up 2.5% in recent trading sessions. In related market movements, Viking Therapeutics dropped 6%, Eli Lilly decreased by 2%, and Novo Nordisk fell by 3%.
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John Carroll
One to watch: $AMGN highlights mid-stage data and PhIII plans for their obesity drug. Is it really that much better, though? $AMGN is a master at touting drugs, but it doesn't always work out as planned. Knocking off the 2 leaders here won't be easy. From @ArmstrongDrew…
Adam Feuerstein ✡️ Wow. Obesity. $AMGN, with positive words no data on MaritTde last night + dropping an oral program, adds $22B in market value this morning. That's more than $ALNY is worth. That's 2.5 $VKTX Speaking of $VKTX -6% this morning. $LLY - 2%, $NVO -3%. https://t.co/lzW0po6c4l
Dirk Haussecker $AMGN crazy, this $150B biotech behemoth has become an #obesity day trading stock reacting to the bowel movements of an ongoing PHASE 2 trial. $VKTX
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