Amgen falls as Q2 profit slips
** Drugmaker Amgen's AMGN.O shares fall 4% to $315.51 premarket
** Co late on Tuesday reported Q2 adjusted profit of $4.97 per share, largely in-line with average analyst estimate -LSEG data
** Adj. profit slipped 1% year-over-year hurt by higher expenses, including costs related to development of its experimental obesity drug MariTide
** It was an "okay" quarter for Amgen's commercial business, say BMO Capital analysts
** "We continue to see AMGN as having the best potential of any large-cap name to emerge as a third player in this rapidly growing (obesity market) space," J.P.Morgan analysts say
** AMGN expects to have initial data from a mid-stage trial of MariTide late this year
** AMGN now expects profit of $19.10-$20.10 per share for 2024 vs previous forecast of $19.00-$20.20 per share
** Up to last close, stock up ~14% YTD
Reporting by Mariam Sunny in Bengaluru
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