Amgen, the US biotech giant, reported impressive third-quarter results, with revenue surging nearly 25% to $8.5 billion and profit soaring by almost two-thirds to $2.8 billion. This performance, bolstered by gains from its BeiGene investment, surpassed analyst expectations despite increased research and development expenditures. The company's robust growth was driven by high demand for its products, with adjusted operating income rising by almost a fifth to $4 billion, although lagging behind revenue growth. Amgen's stock responded positively to the news, showing a slight increase in NASDAQ trading.
Maritide: A Potential Game-Changer
Amgen is making significant strides in the lucrative weight loss market with its obesity treatment, Maritide. The company plans to present data from its ongoing Phase 2 study within the next two months, potentially opening new growth avenues in a sector currently dominated by competitors. This strategic move into the obesity market could attract investor attention and revitalize Amgen's stock performance, which has underperformed the Dow Jones index this year. The development of Maritide represents a key opportunity for Amgen to diversify its portfolio and capture a share of the rapidly expanding obesity treatment market.
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Amgen Stock: New Analysis - 01 NovemberFresh Amgen information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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