Amgen (AMGN) is among a number of major pharmaceutical players looking to enter the newly profitable market for GLP-1 anti-obesity drugs.
Chief Financial Officer Peter Griffith told Yahoo Finance that the company is focused on creating a full pipeline around a market estimated to be $150 billion.
“As we look at the market, we think there is plenty of room. We are investing in this at a large scale,” Griffith said, noting that Amgen is looking at multiple candidates to enter its pipeline.
In addition to the current clinical trial candidate, MariTide, the company is also pursuing a number of preclinical candidates. They vary by method of administration, the number of times they are needed, and the ability to come off the medications – versus current products, which have no end date once a patient starts using them.
Griffith has a clear idea about how the company should invest in the space, especially since it won’t be the first to the market.
“We see obesity as a very heterogeneous disease, and so there will be a large number of affected individuals, and a variety of approaches will be needed,” Griffith said.
The company is also focusing on the additional benefits of GLP-1s, such as potential treatments for heart disease, liver disease, sleep apnea and addiction, among others.
“We think this is a great allocation of our shareholder capital, so we plan to be a very strong player. Obesity is a platform for Amgen; it’s not just MariTide. It’s a general obligation,” Griffith said.
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