1. Scrip
  2. >>Business
  3. >>Earnings

Amgen Focuses On Pipeline As Mature Products Face Declining Demand

 
• By Mandy Jackson

Amgen ended its own development of the CETP inhibitor AMG 899, but will see if anyone else wants to license the drug. Meanwhile, the company is focusing on new drugs and assets in development to offset declining sales for Enbrel and other blockbusters.

Competitive edge and business advantage concept as a group of hot air balloons racing to the top but an individualleader with a small balloon attached giving the winning competitor an extra boost.

Amgen Inc. came to the same conclusion as just about everyone else with a CETP inhibitor and discontinued development of AMG 899, but the company highlighted several other drug candidates during its third quarter earnings call that may eventually offset declining demand for its mature brands.

DalCor Pharmaceuticals is the only company left with a drug targeting cholesterol ester transfer protein (CETP) in the clinic now that Amgen has decided "the value of our CETP inhibitor AMG 899 would be best realized through out-licensing opportunities, which we are now exploring," according to Executive Vice President of Research and Development Sean Harper during the company's third quarter conference call on Oct. 25

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Earnings

More from Business

Deal Watch: Lilly Looks To Creyon For Oligonucleotides

 
• By Joseph Haas

Plus deals involving J&J/Addex/Sinntaxis, Concentra/Kronos, Granata/Oviva, Coeptis/Z Squared, Ligand/Channel and more.

BioNTech Aims To Diversify BNT323 Manufacturing As Filing Nears

 
• By Alaric DeArment

The company plans to expand manufacturing of the HER2-targeting ADC beyond China and plans to file for US FDA approval in 2025.

Accelerated Approval May Be Out Of Reach For PTC’s Huntington’s Drug

 
• By Joseph Haas

PTC said its updated Phase II data for PTC 518 met the primary endpoint of Huntingtin’s protein reduction, but analysts said there isn’t clear correlation with clinical benefit.