Amgen ($AMGN) won court order blocking Colorado's Enbrel price cap

Amgen secured a preliminary injunction preventing Colorado from enforcing a first-of-its-kind price cap on its blockbuster arthritis drug Enbrel.

A federal judge ruled the company was likely to suffer significant and irreparable harm if required to sell the drug at the state-mandated price, which would have capped annual treatment costs at $31,200, well below Enbrel's list price of more than $100,000.

The ruling temporarily halts Colorado's planned price cap, preserving Amgen's pricing strategy for one of its top-selling medicines while the legal challenge continues.