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"Against the backdrop of anticipated double-digit health care cost increases, fueled to a large degree by GLP-1s and overall prescription drug costs, companies cannot ignore the reality that GLP-1s have significant implications for health care budgets and overall affordability." GLP-1 drugs such as Ozempic, Wegovy and Mounjaro can cost more than $1,000 per month without insurance, according to the National Academy of Medicine

Amgen also announced it is scrapping plans for an obesity pill, another area of the market that will be competitive, as Lilly, Novo, and Pfizer (PFE) are all working on options