Amgen's Q1 2025: Contradictions in Obesity Treatment Strategies and Market Dynamics

Market dynamics and competition in obesity treatments, commercial strategy and market positioning for obesity treatments, MariTide's dosing strategy and obesity market competition, MariTide's tolerability profile and efficacy compared to other obesity treatments, TEPEZZA's growth and reimbursement challenges are the key contradictions discussed in Amgen's latest 2025Q1 earnings call.



Strong Financial Performance:
- Amgen reported revenue growth of 9% year-over-year in Q1 2025, with volume growth of 14%.
- This growth was driven by strong demand for innovative medicines, strategic focus, and disciplined execution, as well as positive Phase III readouts and new product launches.

Biosimilar Portfolio Contribution:
- The biosimilar portfolio delivered over $700 million in revenue, up 35% year-over-year in Q1 2025.
- Growth was attributed to the company's proven approach of being among the first to launch biosimilars, ensuring a safe and reliable supply, and ongoing market expansion.

Oncology and Rare Disease Advancements:
- Amgen's oncology portfolio, including BLINCYTO and IMDELLTRA, grew 10% year-over-year, contributing over $2 billion in sales in Q1.
- This was due to the development of new standards of care, breakthrough therapy designations, and strong prescribing across academic and community segments.

MariTide and Obesity Pipeline:
- MariTide, Amgen's investigational obesity therapy, is advancing with Phase III studies underway, aiming to evaluate its efficacy and tolerability.
- The development is supported by strong data from Phase II studies, showing significant weight loss and improved cardiometabolic parameters, positioning MariTide as a promising treatment option.