Amgen Ordered to Pay $406 Million for Anticompetitive Practices

Published 1 hours agoAMGN

Amgen Ordered to Pay $406 Million for Anticompetitive Practices

In a significant legal decision, a federal jury in Delaware has ruled that pharmaceutical giant Amgen must pay more than $406 million to Regeneron Pharmaceuticals. This verdict stems from allegations of Amgen engaging in anticompetitive practices within the cholesterol-lowering drug market. At the heart of the issue is Amgen's strategy of unlawfully bundling its cholesterol medication, Repatha, with two of its top anti-inflammatory drugs, encouraging pharmacy benefit managers to favor Repatha over Regeneron's competing product, Praluent.

The breakdown of the jury's award includes $271.2 million in punitive damages directed at Amgen. Reuters reported strong reactions from Regeneron, whose CEO Leonard Schleifer criticized these coercive market methods as undermining healthy competition. The financial implications are significant when considering last year's sales figures, with Amgen recording $1.1 billion from Repatha in the U.S., compared to Regeneron's $241 million from Praluent sales in the same market.

Amgen, however, disputes these allegations and has expressed intent to appeal the jury's decision through post-trial proceedings. The company maintains that it did not engage in monopolistic practices, signaling that the legal debate surrounding these anticompetitive allegations may continue.

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