Amgen to Create 370 New Employment Opportunities in North Carolina Through B Investment in Manufacturing

Amgen to Create 370 New Employment Opportunities in North Carolina Through B Investment in Manufacturing

Amgen to Create 370 New Employment Opportunities in North Carolina Through B Investment in Manufacturing

Amgen has declared a significant investment of billion for a new manufacturing facility in North Carolina, which is expected to generate 370 jobs for the local workforce.

While specifics about the forthcoming facility in Holly Springs remain limited, Amgen has not stated when construction will commence nor offered a timeline for when the plant will start operations. The company has indicated that this facility will be dedicated to the manufacturing of drug substances, yet the exact products slated for production have not been disclosed.

“This expansion emphasizes our commitment to delivering transformative therapies to patients globally,” said CEO Robert Bradway in the announcement.

This latest investment follows Amgen’s earlier 0 million investment announced in March 2022, which also focused on establishing a biomanufacturing facility. The new site in North Carolina comes on the heels of another manufacturing site that Amgen recently opened in Ohio in February 2024, which added 400 jobs in that region.

When compared to leading weight-loss companies Eli Lilly and Novo Nordisk, Amgen has not been pursuing production capacity increases as aggressively. However, it appears the California-based firm may be enhancing its manufacturing capacity in anticipation of entering the obesity drug market.

Amgen is advancing its investigational bispecific molecule MariTide, designed to inhibit the GIP receptor while activating the GLP-1 receptor. This dual action encourages insulin secretion in the pancreas and helps suppress appetite, potentially improving metabolic parameters.

MariTide is currently undergoing a Phase II trial to assess its efficacy and safety in individuals who are overweight or obese. Recently, Amgen released trial data indicating that MariTide may facilitate a weight loss of up to 20% on average over 52 weeks, although placebo-adjusted efficacy was not reported at that time.

Market reaction to these results was less than enthusiastic, with Amgen’s stock falling by 11%. Analysts from BMO Capital Markets noted that the findings were encouraging for future development, but did not align with a ‘bull case scenario.’

Jefferies analysts echoed this lukewarm response, remarking that while bulls may be somewhat let down, bears would claim that Amgen is losing its prominence in the obesity market. However, they also pointed out that weight loss had not stabilized by the time of the readout, suggesting that further follow-up could enhance its efficacy profile.

Despite the market’s disappointment, Amgen appears undeterred. CSO Jay Bradner announced plans to continue with the Phase III MARITIME study for MariTide, focusing on obesity and related conditions.