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Amgen (NASDAQ:AMGN) experienced a 6% drop in stock price on June 23, 2025, after releasing mid-stage clinical trial results for its obesity drug candidate, MariTide. The findings indicated a requirement for a lower initial dosage to mitigate side effects like vomiting. Amgen plans to proceed with Phase 3 trials, introducing a reduced dose and incrementally increasing it over an eight-week period.
MariTide holds significant market potential, with expected peak annual sales surpassing $5 billion. At a current trading price of approximately $270 per share, Amgen is considered a compelling investment despite some identified risks. Financially, the company has demonstrated strong performance metrics, including a 9.3% annual revenue growth rate over the past three years and a 15.6% revenue increase from $30 billion to $34 billion within the last year.
As of June 23, 2025, Amgen’s market cap stands at $147 billion with a debt of $57 billion, resulting in a debt-to-equity ratio of 36.6%. The company’s operating income reached $7.4 billion in the last four quarters, yielding a moderate operating margin of 21.8%. Despite recent setbacks, Amgen has shown resilience in market downturns, recovering fully from previous declines due to economic events.
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