A federal jury in Delaware put US biotech major Amgen (Nasdaq: AMGN) on the hook Thursday for at least $271.2 million in punitive damages arising from an alleged scheme that undercut Regeneron's (Nasdaq: REGN) price for its Praluent (alirocumab). anti-cholesterol drug by bundling Amgen's competing, higher-priced Repatha (evolocumab) with rebates for two expensive, blockbuster medications.
Despite the negative decision for Amgen, its shares closed up 3.6% at $271.69 yesterday, while those of Regeneron edged up 2.4% to $584.99.
The Court found that Amgen violated antitrust and tort laws by creating a bundling scheme that illegally leveraged its blockbuster anti-inflammatory drugs Enbrel (etanercept) and Otezla (apremilast) to convince pharmacy benefit managers (PBMs) to select Repatha as the exclusive PCSK9 category product over Praluent. The jury found that Amgen violated the Clayton Act, the Sherman Act, the New York State Donnelly Act, the California Cartwright Act and Delaware tort law.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze