Horizon Therapeutics Public Limited Company Ordinary Shares

HZNP

Market cap $26.6B

Amgen has not been a great performer in the last two years. Investors became and remain skeptical of MariTide's prospects in obesity, type 2 diabetes, and other related indications. I continue to see MariTide's monthly dosing as a strong selling point and expect that addition of dose escalation to phase 3 trial design will improve its tolerability.

Amgen on Tuesday said its adjusted fourth-quarter profit rose 15%, driven by a 20% increase in revenue following the biotechnology company's October acquisition of rare disease drugmaker Horizon Therapeutics.

CNBC's Jim Cramer pointed out the numerous mergers and acquisitions across the biopharma industry.

Valuations in the biotech market have fallen, making it a good time for acquisitions in the industry. Investors should focus on commercial-stage biotech companies that generate revenue, as they provide a safety net in uncertain economic conditions.