May 15 (Reuters) - A federal jury in Delaware said on

Thursday that biotech company Amgen ( AMGN ) owes competitor

Regeneron more than $406 million for engaging in

anticompetitive behavior to increase sales of its

cholesterol-reduction drug Repatha at the expense of Regeneron's

rival drug Praluent.

The jury agreed with Regeneron that Amgen ( AMGN ) unlawfully bundled

Repatha with two of its blockbuster anti-inflammatory drugs to

persuade pharmacy benefit managers to buy it instead of

Praluent.

The verdict includes $271.2 million for Regeneron in

punitive damages. Amgen ( AMGN ) said in a statement that it "has always

competed fairly and in compliance with the antitrust laws" and

"look forward to post-trial proceedings."

"Larger companies should not be allowed to use

anticompetitive tactics to push competitors out of the market,"

Regeneron CEO Leonard Schleifer said in a statement.

Tarrytown, N.Y.-based Regeneron filed the lawsuit in 2022,

accusing Amgen ( AMGN ) of engaging in an anticompetitive scheme to drive

Amgen's ( AMGN ) drug out of the market. Thousand Oaks, California-based

Amgen ( AMGN ) denied the allegations and countered that Regeneron's

business decisions caused lost Praluent sales.

Regeneron earned more than $241 million from sales of

Praluent in the U.S. last year, while Amgen ( AMGN ) made over $1.1

billion from U.S. Repatha sales, according to company reports.