Amgen's Weight-Loss Drug Falls Short, Stock Plummets

CosmicTaco · 2024-11-27T00:44:26.912560+05:30

- Amgen's MariTide Phase-2 data showed 20% weight loss at 52 weeks, but stock dropped 13.31% pre-market. - Rival stocks Eli Lilly and Novo Nordisk rose on Biden's proposal for expanded Medicare, Medicaid coverage for obesity drugs. - Retail investors remain bullish on Amgen despite analyst disappointment. Source: [Asianet Newsable](https://newsable.asianetnews.com/markets/amgen-stock-sinks-on-modest-obesity-drug-results-but-retail-sentiment-remains-steady-snk9xh), [Asianet Newsable](https://newsable.asianetnews.com/markets/eli-lilly-novo-nordisk-shares-climb-premarket-as-biden-administration-mulls-medicare-medicaid-covering-for-obesity-drugs-retail-unmoved-snk72g)

Amgen's MariTide Phase-2 data showed 20% weight loss at 52 weeks, but stock dropped 13.31% pre-market.
Rival stocks Eli Lilly and Novo Nordisk rose on Biden's proposal for expanded Medicare, Medicaid coverage for obesity drugs.
Retail investors remain bullish on Amgen despite analyst disappointment.

Source: Asianet Newsable, Asianet Newsable