Goldman Sachs said Amgen's experimental GLP-1 drug could have peak sales of $5 billion, or 5% of the estimated $100 billion weight loss drug market.

Shares of Amgen Inc. rallied about 15% in the extended session Thursday after the drug manufacturer posted adjusted earnings above expectations and executives said they are “very encouraged” by preliminary data from a trial of an injectable weight-loss drug.

Amgen stock rallied 13% Thursday evening after the biotech giant issued its Q1 earnings report, tweaked its 2024 guidance and offered an update on its weight-loss drug candidates.

Wegovy prices in the United States were "slightly down" in the first quarter and Novo expects further decreases through the rest of 2024,

At least one sector has shrugged off the current economic uncertainty, and now the industry leader has some company: Novo Nordisk’s Ozempic is seeing stiff competition from Eli Lilly as both pharmaceutical giants grapple with surging demand for weight-loss drugs.

Shares in Danish drugmaker Novo Nordisk dropped as much as 5.3% on Friday, set for their biggest one-day fall since August 2022, after rival Amgen said it was encouraged by interim trial data on its experimental obesity drug.

Danish drugmaker Novo Nordisk will lower prices of its weight loss drug Wegovy as it plans to raise sales volumes and navigate tough competition. Prices for the blockbuster drug fell in the first quarter.

Novo Nordisk, which is now Europe’s most valuable company, also reports strong sales of diabetes drug Ozempic

Novo Nordisk raised its 2024 outlook on Thursday as the Danish drugmaker races to boost output of its Wegovy weight-loss treatment, while competition from rival Eli Lilly forced the company to cut prices of the drug,