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Amgen down after Viking Therapeutics' weight-loss drug succeeds in mid-stage trial

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** Shares of drugmaker Amgen AMGN.O, which is developing a weight-loss drug, fall 2.6% to $278.9 and weighed on the blue chip Dow Jones Index .DJI

** Smaller obesity drug developer Viking Therapeutics' VKTX.O experimental drug VK2735 helped patients achieve "significant" weight loss in a mid-stage study

** Amgen is set to announce results from a mid-stage trial of its lead injectable weight-loss candidate, MariTide, later this year

** Truist Securities analyst Joon Lee said that Viking's data could "put pressure in Amgen's aspirations for obesity"

** Shares of larger and market dominating players Eli Lilly LLY.N down marginally at $770.3, while U.S.-listed shares of Novo Nordisk NVO.N down 1.4% at $121.8

** Brokerage J.P. Morgan says data suggests a competitive efficacy with the weight-loss profile of VK2735 as roughly comparable with Zepbound

** Surge in VKTX shares helped lift smaller obesity drug developers such as Altimmune ALT.O, up 23.7% at ~$14, and Structure Therapeutics GPCR.O, rose 5.1% to ~$43

Reporting by Pratik Jain in Bengaluru


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