Amgen drops Phase 1 obesity drug AMG 513, leaving MariTide as its only weight-loss candidate and eyes early-stage deals

Amgen announced it is halting development of AMG 513, a Phase 1 obesity therapy, leaving MariTide as its sole weight‑loss asset.

The company said its late‑stage pipeline is largely full, so future business‑development will target earlier‑stage programs and smaller acquisitions.

Analysts at Truist Securities expressed disappointment, noting Amgen’s $14 billion cash pile and $57.3 billion debt, and saying the firm’s appetite for external innovation seemed smaller than expected.

CEO Robert Bradway reiterated the focus on “emerging shoots” during the Q2 earnings call but did not provide details on specific targets.