Judge Blocks Colorado's Enbrel Price Cap, Protecting Amgen's Blockbuster Drug Revenue
AMGN sits 34% above its 52-week low of $269.77.
Summary
A federal judge has blocked Colorado's attempt to cap the price of Amgen's blockbuster arthritis drug, Enbrel. This ruling prevents a first-of-its-kind state-level price cap that would have limited Enbrel's annual cost to $31,200, significantly below its current list price exceeding $100,000. The decision protects a major revenue stream for Amgen, as Enbrel generated $2.23 billion in sales in 2025. This outcome is a significant win for Amgen, potentially preventing similar price control measures in other states and safeguarding the company's drug pricing power.
At the time of this announcement, AMGN was trading at $361.33 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $195B. The 52-week trading range was $269.77 to $391.29. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.