Amgen (NASDAQ:AMGN) has gotten one important step closer to bringing its "bad" cholesterol-reducing treatment to market. The company announced that its evolocumab treatment met its primary endpoint in a Phase 3 TESLA trial, saying that the percent reduction of lipoprotein (the so-called "bad") cholesterol over time was "clinically meaningful and statistically significant."
In the company's words, evolocumab is "an investigational fully human monoclonal antibody that inhibits proprotein convertase subtilisin/kexin type 9 (PCSK9), a protein that reduces the liver's ability to remove [lipoprotein cholesterol] from the blood."
TESLA is a two-part Phase 2/3 trial whose initials stand for "Trial Evaluating PCSK9 Antibody in Subjects with LDL Receptor Abnormalities."
The market for bad cholesterol-reducing medications is a highly competitive one, with several prominent pharmaceutical companies pushing to bring such treatments to market.
Eric Volkman has no position in Amgen. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.