01:48 PM EDT, 08/07/2024 (MT Newswires) -- Amgen ( AMGN ) has been accused of holding a monopoly on the autoimmune drug Enbrel, according to the lawsuit filed in the US District Court for the Eastern District of Virginia.

The proposed class action filed Tuesday by CareFirst of Maryland, Group Hospitalization and Medical Services, and CareFirst BlueChoice alleged that "Amgen ( AMGN ) engaged in a long-running and successful scheme to build and buttress its monopoly power over Enbrel."

The plaintiffs accused the company of "reaping billions in profits while denying purchasers and patients access to the lower prices they would have paid in a competitive market."

The plaintiffs said Amgen ( AMGN ) wants to block biosimilar competition, which they said lowers drug prices.

Amgen ( AMGN ) didn't immediately respond to a request for comment from MT Newswires. Its shares were down 5.8% in recent Wednesday trading.

Price: 310.00, Change: -18.95, Percent Change: -5.76