Amarin Corporation plc (ADR)(NASDAQ:AMRN) Wins Vascepa Marketing Rights


Dallas, Texas 02/25/2014 (FINANCIALSTRENDS) – Amarin Corporation plc (ADR)(NASDAQ:AMRN)  has been awarded marketing rights for its tridglyceride reduction drug called Vascepa. The company now holds exclusive rights to bring sell until July 25, 2015. However, this is expected to be extended beyond these stipulated dates, under the Hatch Waman Amendments. These are a series of corrective initiatives which will help in correcting infringement of litigations. These are now initiated by Amarin and in the meanwhile provide complete generic version use by Vescepa.

Amarin Corporation plc (ADR)(NASDAQ:AMRN) is yet to decide on challenging the FDA decision of only three years. The company has commented that it is yet to evaluate on the topic of FDAs decision. However, it was categorical that the approval for only three years is not acceptable. The company also reiterated that it had expected over five years and had instead been awarded only three years. The company also reported that the lowered marketing right time frame as well as patent protection challenge is two issues the company now needs to handle over the years.

Amarin Corporation plc (ADR)(NASDAQ:AMRN)  also notes that the marketing exclusivity is actually for the chemical entity only.  According to analyst Jon LeCroy who since lowered the fair value estimate for $1.75 from the previous $2.50, further affecting stock prices for AMRN. The company is expected to challenge the decision soon. This has also meant that the evaluation for the company has seen a downward revision – from 4times to only 3 times.

Amarin Corporation plc (ADR)(NASDAQ:AMRN) is a biopharmaceutical which is engaged in developing such products as the biopharmaceutical which develops solutions based on lipid science and will treat several cardio diseases.

Amarin Corporation plc (ADR)(NASDAQ:AMRN) product candidate is AMR 101 and is an ultra-pure fatty acid. It encourages developikng ARM101 which will treat patients who suffer from high triglyceride as well as hypertriglyceridemia.