Amgen’s MariTide stands alone after obesity cull while analysts seek more M&A
August 5, 2026 |
2 min read |
Tristan Manalac
Amgen has discontinued Phase 1 obesity candidate AMG 513, leaving MariTide as its sole weight loss asset. Meanwhile, executives said the company’s late-stage pipeline is largely full and future business development will focus on earlier-stage opportunities
Though Amgen’s late-stage clinical plate may be “pretty full” right now, the pharma won’t slack off on business development
Amgen’s dealmaking push in the near-term, however, will be focused on “emerging shoots,” Bradway told investors on a Tuesday afternoon call presenting the company’s second quarter earnings. “We’re seeing some exciting early-stage programs in our industry right now,” he said, without providing further detail
The pharma’s focus on early-stage and smaller deals seems to have disappointed analysts at Truist Securities, who wrote in a Tuesday note that the Amgen’s appetite for external innovation “appears smaller than we (and investors) had hoped.”
Instead, the analysts were hoping for “more creativity with excess capital,” pointing to Amgen’s $14 billion in cash and cash equivalents as of June 30. The company also recorded $57.3 billion in outstanding debt
Even as it looks externally for young assets to build out its pipeline, Amgen revealed that it would discontinue the development of its Phase 1 obesity candidate AMG 513—bringing its obesity pipeline down to just the late-stage MariTide
Before being scrapped, AMG 513 had been put under clinical hold, though Bradway in 2025 claimed the reason for the pause was not drug-related. The pharma in May 2024 canned another obesity asset, dubbed AMG 786, electing instead to focus its investments into MariTide
Earnings
Amgen positions MariTide as potential ‘best monthly’ obesity drug
Amgen has launched a late-stage program to test the feasibility of switching patients from weekly GLP-1 injections to its own investigational obesity asset MariTide, which could open up monthly or more infrequent dosing schedules.
May 1, 2026
· 2 min read
· Tristan Manalac
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Amgen’s late-stage operations, Bradway said on the call, are “pretty full” at the moment, particularly as the pharma pushes its two main cardiometabolic hopefuls through Phase 3 development. One of these is MariTide, which, beyond obesity, is being studied for a slew of conditions, including heart failure, type 2 diabetes and obstructive sleep apnea, according to a company presentation
MariTide is an antibody-peptide conjugate Bradway characterized as “truly a singularity,” designed to activate GLP-1 with its peptide part and inhibit GIPility inside the body and elicit a “long period of exposure” to the therapy, Jay Bradner, executive vice president of R&D, explained on the call
Amgen has previously positionedMariTide as the leading monthly weight loss option, providing patients with a more convenient, less frequent alternative. The company is eyeing an injection schedule of 4 to 6 times a year for MariTide
Amgen’s other late-stage cardiometabolic candidate is olpasiran, a siRNA therapy being developed to lower lipoprotein(a) levels. The asset is being tested for atherosclerotic cardiovascular disease (ASCVD) and as a primary and secondary prevention medicine for cardiovascular diseases
In the second quarter, Amgen reported a 10% year-over-year revenue increase to $10.1 billion. The company’s top-selling product was the cholesterol-lowering drug Repatha, which surged 37% to hit $953 million. Other standout medicines include Tepezza, indicated for thyroid eye disease, jumping 14% to $576 million, and the autoimmune medicine Uplizna, which skyrocketed 90% to make $335 million
Earnings
Pipeline Problems Mar Amgen’s Q4 Beat
Amgen outperformed expectations in the fourth quarter of 2024, but revealed an FDA hold on early-stage obesity asset AMG 513 and the discontinuation of other programs.
February 5, 2025
· 3 min read
· Tristan Manalac
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Tristan Manalac
