Amgen Faces Lawsuit Over Discount Drug Sales Termination
Amgen Inc's stock rose 3.65% and reached a 20-day high amid positive market conditions, with the Nasdaq-100 and S&P 500 both showing strong gains.
However, the company is facing a lawsuit from Sagebrush Health Services, which claims Amgen unlawfully terminated discounted drug sales, impacting its ability to serve over 10,000 patients. The lawsuit seeks over $7 million in damages and alleges that Amgen's actions compromised patient access to care by unilaterally determining ineligibility for the 340B Program without following federal processes.
This legal challenge could pose risks to Amgen's reputation and financial standing, potentially affecting investor confidence despite the current stock performance.
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