White & Case Wins $405M Antitrust Case for Regeneron.
In a high-profile antitrust case, a federal jury in Delaware awarded Regeneron Pharmaceuticals over $405 million in damages, finding that Amgen Inc. illegally stifled competition and disrupted Regeneron’s business opportunities.
The verdict, delivered by a seven-member jury in the U.S. District Court for the District of Delaware, caps off a legal showdown that centered around drug pricing, market access, and what Regeneron described as anti-competitive bundling tactics used by Amgen.
Regeneron sued in 2022, claiming that Amgen unfairly tied its cholesterol drug Repatha to rebates on two of its blockbuster treatments – Enbrel, used for rheumatoid arthritis, and Otezla, a psoriasis drug.
Regeneron alleged that Amgen used its market power to bundle Repatha- its cholesterol drug, with rebates on other high-revenue medications, including Enbrel and Otezla, in a move aimed at keeping Praluent, Regeneron’s rival treatment, off insurance formularies controlled by pharmacy benefit managers.
Over the course of a seven-day trial, Regeneron argued that this strategy amounted to anti-competitive conduct that effectively excluded Praluent from the market.
The jury ultimately sided with Regeneron, concluding that Amgen violated federal and state antitrust laws and had unlawfully interfered with Regeneron’s prospective business relationships.
“Patients rely on the biotech industry to find solutions for their most urgent medical conditions. At Regeneron, we take this responsibility very seriously and are committed to delivering breakthrough therapies that improve patient lives.
To achieve this, companies must be able to compete fairly based on the clinical and economic value of their products. Larger companies should not be allowed to use anticompetitive tactics to push competitors out of the market,” said Leonard S. Schleifer, M.D., Ph.D., Board co-Chair, President and Chief Executive Officer of Regeneron.
“Fair competition is critical as it expands patient access to life-changing therapies and drives innovation forward so we can continue to address the medical challenges of tomorrow.”
The damages breakdown included $135.6 million in compensatory damages, covering lost opportunities and business harm, and a further $271.2 million in punitive damages, underscoring what the jury found to be egregious and willful misconduct on Amgen’s part.
Regeneron is also set to recover attorneys’ fees, significantly increasing the financial impact of the verdict.
The litigation team for Regeneron was led by Jonathan Polkes, co-head of White & Case’s Global Litigation Practice, along with partner Adam Banks. Supporting them was a team of New York-based associates: Wyatt Smith, Logan Quinn, Saambavi Mano, Michelle Gemmell, and Michael Campbell.
Regeneron is a leading U.S. biotech company headquartered in New York, specializing in the discovery and development of medicines for serious diseases. Founded in 1988, the company uses cutting-edge technologies like VelociSuite and large-scale genetic research to drive innovation across areas including oncology, immunology, and rare diseases.
White & Case LLP is a global law firm known for providing high-quality legal services to clients across a broad range of industries. Founded in 1901, the firm has grown to become one of the largest international law firms, with offices in over 40 locations worldwide. White & Case specializes in complex legal matters, including banking and finance, mergers and acquisitions, capital markets, dispute resolution, and regulatory compliance. The firm represents multinational corporations, governments, and financial institutions, offering expertise in cross-border transactions, international litigation, and arbitration. White & Case is renowned for its deep industry knowledge, innovative solutions, and commitment to delivering results for its clients.
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