Amgen's Strategic Moves: From Scrapping Cancer Drug to Boosting Obesity Drug Sales

Amgen reported strong Q3 earnings and raised its full-year revenue guidance. The company completed its acquisition of Horizon Therapeutics, expanding its portfolio with drugs like Tepezza. Amgen is also venturing into the obesity drug space, with enrollment completed for its drug Mari in a phase 2 trial. The company aims to build a platform for obesity treatment and expects top-line data from the phase 2 trial by the end of 2024. Amgen is optimistic about its rare disease business and plans to expand the reach of Tepezza to more prescribers and internationally.