Biotech company Amgen is testing a new injectable weight loss treatment as it looks to beat other drugmakers to the punch.
Amgen’s new monthly injection treatment, MariTide, is being created to help individuals lose weight and keep it off once they’ve stopped taking the medication.
Amgen is also testing the drug for its frequency use and is examining whether the drug can be taken once a month or less.
It remains to be seen whether Amgen’s treatment will cost less than $1,000 per month, the typical price other drugmakers have set for their weight loss treatments.
Amgen’s MariTide is still in the early stages of testing. The company is also developing obesity treatments, including an oral medication.
Amgen’s position in the race
Thousand Oaks, California-based Amgen’s weight loss drug endeavors come at a time when other drugmakers, such as Novo Nordisk and Eli Lilly, command a large share of the weight loss drug economy.
Competition among the pharmaceutical giants could heat up as Amgen’s injectable weight loss treatment develops.
Earlier this week, the U.S. Centers for Medicare and Medicaid Services (CMS) said it would start to cover Novo Nordisk’s Wegovy but not for those looking to slim down. Instead, the agency said it would begin coverage of the drug for patients who were prescribed the medication as a way to reduce their risk of major heart incidents including heart attacks and strokes.
But even so, Novo Nordisk has become one of the most valuable companies in the world, and is poised to reach a $1 trillion valuation thanks to the soaring demand for its weight loss drugs.
In early March, Eli Lilly said it would start working with Amazon to deliver its weight loss drug Zepbound for users with a prescription.
-Bruce Gil contributed to this article.