Amgen's MariTide Obesity Drug Data Disappoints, Raising Questions About Future Prospects

Amgen's experimental obesity drug MariTide has fallen short of expectations in its latest clinical trial results, casting doubt on its potential to compete with established treatments from Eli Lilly and Novo Nordisk. The full Phase 2 study data, presented at the American Diabetes Association meeting and published in The New England Journal of Medicine, revealed lower weight loss efficacy and higher discontinuation rates than previously reported.

Mixed Results and Market Reaction

MariTide, designed to target GLP-1 and GIP gut hormones, helped patients lose an average of up to 16% of their body weight over a year. However, this figure is lower than Amgen's initial report in November, which excluded participants who discontinued treatment. The results appear inferior to Eli Lilly's Zepbound and only marginally better than Novo Nordisk's Wegovy, though direct comparisons have not been made in clinical trials.

The market responded negatively to the news, with Amgen's shares falling 4% following the data presentation. Analysts have expressed concerns about the drug's commercial viability, given its efficacy and side effect profile.

Side Effects and Dosing Challenges

One of the primary challenges facing MariTide is its side effect profile, particularly the high incidence of vomiting. This adverse event has led to study discontinuations and prompted Amgen to modify its dosing protocol. While some analysts, like Jefferies' Michael Yee, noted that vomiting appeared to decrease after the first dose, others view the need for dosing adjustments as a potential drawback.

Baird analyst Brian Skorney pointed out that the necessity for a complex dosing strategy could eliminate what was supposed to be a competitive advantage for Amgen. The company now plans to implement a three-step dosing approach in its Phase 3 trial, aiming to improve both efficacy and tolerability.

Future Prospects and Industry Competition

Despite the setbacks, MariTide remains one of the most closely watched therapies in the competitive obesity drug market. The pharmaceutical industry is actively developing new treatments to surpass the efficacy of Zepbound and Wegovy while offering more convenient administration and better side effect profiles.

As the obesity drug landscape continues to evolve, Amgen faces the challenge of differentiating MariTide in a market where established players like Eli Lilly and Novo Nordisk are also advancing their own pipeline candidates. The success of MariTide will likely depend on its ability to demonstrate superior efficacy, tolerability, or convenience in future clinical trials.