During the first half of 2025, Wegovy and Zepbound, two weight loss drugs, ranked among the top 10 best-selling medicines worldwide. And given current projections for this market, we could see more weight management therapies among the top-selling drugs in the next five years.
Two companies inching closer to launching anti-obesity medicines are Amgen (AMGN +0.42%) and Roche (OTC: RHHB.Y). Should investors consider purchasing shares of these leading drugmakers?
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1. Amgen
Amgen's leading weight loss candidate is called MariTide. Last year, it completed phase 2 studies. In the 52-week trial, the medicine led to an average weight loss of up to 20%. One important differentiator MariTide may have is that it could be administered monthly. The current market leaders, Wegovy and Zepbound, are taken weekly. Even with lower efficacy, MariTide could attract enough patients with a friendlier dosing regimen.
Amgen started phase 3 studies for MariTide late last year across diabetes and weight management. If all goes well, the medicine could earn approval within three years. It would be a great addition to Amgen's lineup. Although the biotech company performed well last year, it lost patent exclusivity for denosumab, an important growth driver indicated for the treatment of certain bone conditions, in 2025.
NASDAQ: AMGN
Key Data Points
Thankfully, over the next few years, Amgen should earn approval for several newer products. The company's bemarituzumab, an investigational therapy for gastric cancer, performed well in phase 3 studies last year, as did rocatinlimab, a medicine for eczema.
Amgen still has several drugs that will help pull its sales in the right direction. These include Tezspire, a medicine for asthma, and Repatha, used to lower bad cholesterol, among others. Lastly, Amgen is a great dividend stock, having increased its payouts every year since initiating them in 2011. The stock's foray into weight management could help, but there are many other reasons to invest in Amgen.
2. Roche
Roche recently made headlines thanks to the strong performance of its anti-obesity candidate, CT-388, in phase 2 studies. The medicine led to a placebo-adjusted 22.5% weight loss at the highest dose in the 48-week trial. Roche is now planning to start a pair of phase 3 studies for CT-388 in obesity this quarter. Roche has a couple of other weight management candidates in the pipeline, including CT-996, which could be an oral option.
OTC: RHHBY
Key Data Points
Within a few years, it could launch at least one of them, probably CT-388, since it is currently the most advanced. This medicine would add to a list of several growth drivers that Roche already has, including cancer drug Tecentriq and Vabysmo, which treats several eye-related diseases. These and other products will contribute to Roche's top-line until 2038, according to management.
And beyond weight loss candidates, Roche has a deep pipeline that will help it expand its lineup. Roche is performing well for a reason: The stock looks like a strong buy-and-hold option.
