Amgen is making significant strides with its experimental drug MariTide, positioning itself as a formidable challenger to industry leaders Novo Nordisk and Eli Lilly.

This development comes as investors who might have previously missed the rapid surges in Eli Lilly & Co. and Novo Nordisk A/S now reevaluating their investment strategies with a renewed focus on Amgen, according to Bloomberg.

Amgen's MariTide Fuels Investor Optimism

On Friday, Amgen's shares surged 12%, marking the company's largest single-day increase in nearly 15 years.

VCPost also previously reported that shares of the company climbed nearly 15% during Thursday's extended trading session following the drugmaker's announcement of adjusted results that surpassed expectations.

Investors are particularly eager about Amgen's MariTide's unique selling points, including less frequent dosing, which could lead to more extended weight loss and reduced side effects compared to current treatments.

Analysts like William Blair's Matt Phipps note a palpable enthusiasm among investors, as reported by Bloomberg, indicating a growing belief in Amgen's ability to disrupt the status quo in the weight loss drug segment.

It is projected to reach a staggering $100 billion valuation by the decade's end.

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Market Competition in Weight Loss Drug Sector

Amgen's advantage lies not only in MariTide's efficacy but also in its strategic positioning as part of a broader trend. 

Other contenders, such as Viking Therapeutics, Altimmune, and AstraZeneca, are also progressing with their weight loss treatments, indicating robust competition in the market.

While Amgen's journey toward market success involves navigating regulatory hurdles and extensive clinical trials, the company's recent stock surge reflects a renewed optimism in its potential to challenge industry giants and capture a significant market share in the weight loss drug landscape.

READ MORE: Novo Nordisk Now The 12th Most Valuable Company After Positive Weight Loss Pill Trial, Surpassing Tesla