Welcome to our dedicated page for Amarin news (Ticker: AMRN), a resource for investors and traders seeking the latest updates and insights on Amarin stock.
Amarin Corporation plc develops and commercializes cardiovascular therapeutics centered on icosapent ethyl, marketed as VASCEPA in the United States and VAZKEPA in Europe. Company news commonly covers product revenue, cash flow, U.S. prescription trends, partner-led international commercialization, and European distribution under an exclusive licensing and supply agreement with Recordati.
Updates also include medical-society guideline discussions, REDUCE-IT analyses, peer-reviewed publications, and scientific meeting presentations on cardiovascular risk reduction, elevated triglycerides, eicosapentaenoic acid, and lipoprotein(a) oxidation.
Amarin Corporation plc (AMRN) has issued a statement correcting misinformation released by Sarissa Capital Management. Contrary to Sarissa's claims, Amarin confirmed that its registrar is accepting all proxy cards for the upcoming General Meeting of Shareholders, adhering to standard practices in contested solicitations. The registrar notified Sarissa eight hours before their release that all proxy submissions, including Sarissa's blue card, would be accepted. This clarification emphasizes Amarin's commitment to all shareholders and contradicts Sarissa's narrative, which appears to prioritize its own interests over those of Amarin's broader shareholder base.
Sarissa Capital has raised concerns about Amarin's handling of proxy votes, claiming that Amarin's registrar was not instructed to accept blue proxy cards as required by law. This situation is viewed as an attempt to disenfranchise shareholders. Sarissa, the largest shareholder with over 25 million shares, has ensured that all votes submitted on the blue proxy card will be counted. They urge shareholders to vote 'FOR' their nominees and the removal of Chairman Per Wold-Olsen by the February 21, 2023 deadline. Sarissa believes that Amarin requires significant change to unlock its potential.
Sarissa Capital Management expressed concerns regarding Amarin Corporation's recent shareholder engagement webcast, deeming it tone-deaf and lacking accountability for poor performance. CEO Karim Mikhail asserted that the company met its objectives despite shareholders losing over $840M in 2022. Sarissa highlighted discrepancies, such as Mikhail's $5.8M compensation amid a 31% stock decline and Chairman Per Wold-Olsen's $1M compensation during a 64% value loss. Call for shareholder support to elect Sarissa nominees was emphasized, with the proxy vote deadline on February 21, 2023.
Sarissa Capital Management LP has issued a statement regarding Amarin Corporation (NASDAQ: AMRN), accusing the company of wasting shareholder capital. Amarin plans to spend over $7 million to block Sarissa from board representation, which is significantly more than Sarissa's planned expenditure. The statement highlights past financial mismanagement, including substantial compensation granted to executives despite significant stock declines, totaling over $1.4 billion in shareholder losses in 2021 and 2022. Sarissa advocates for shareholder action to remove Chairman Per Wold-Olsen and supports change in leadership.
Amarin Corporation plc (NASDAQ: AMRN) announced a live webcast on February 14, 2023, from 8:00 a.m. to 9:00 a.m. ET. Members of the Board and management team will address shareholder questions regarding the company’s strategy and operational improvements. Shareholders can submit questions in advance. The upcoming General Meeting of Shareholders is set for February 28, 2023, with record shareholders entitled to vote. Amarin urges shareholders to vote 'AGAINST' all proposals on the WHITE proxy card. Voting deadlines vary for ADS and ordinary shares. For investor assistance, proxy solicitors are available. More information can be found at www.voteamarin.com.
Sarissa Capital Management has issued a letter urging Amarin shareholders to vote for significant changes at the company, including the appointment of new board members and the removal of Chairman Per Wold-Olsen.
They criticize Amarin’s leadership for poor performance, highlighted by a 64% decline in stock price in 2022, equating to a loss of over $840 million in shareholder value. Furthermore, Sarissa points to management’s ineffective market strategies and lack of shareholder engagement as contributing factors to Amarin's failure to capitalize on its valuable asset, Vascepa/Vazkepa.
Sarissa urges action before the February 21, 2023 voting deadline to prevent further value destruction.
Amarin Corporation (NASDAQ: AMRN) has mailed a letter urging shareholders to vote “AGAINST” all proposals on the WHITE proxy card at the scheduled General Meeting on February 28, 2023. The letter highlights a significant shift in the company's management and strategy, emphasizing that Amarin is undergoing a transformation and has the right team to drive shareholder value. The letter accuses Sarissa of misleading shareholders with a track record of value destruction, citing that companies with Sarissa-affiliated directors have seen a NEGATIVE 24% total shareholder return. Amarin's management is committed to maximizing value, including potential M&A opportunities.
Sarissa Capital Management urges Amarin shareholders to vote the BLUE proxy card ahead of the general meeting on February 28, 2023. Shareholders should ensure their votes are submitted by February 21, 2023. Sarissa's presentation highlights inaccuracies in Amarin's statements aimed at protecting its board, advocating for the election of Sarissa’s nominees and the removal of Chairman Per Wold-Olsen. Shareholders are encouraged to refrain from using Amarin’s WHITE proxy card, with additional details available on Sarissa's website and through its proxy solicitor, D.F. King & Co., Inc.
Amarin Corporation (NASDAQ: AMRN) sent a letter to shareholders urging them to vote "AGAINST" Sarissa Capital's proposals during the upcoming General Meeting set for February 28, 2023. The company criticized Sarissa for spreading misleading information and attempting to take control of the board with underqualified nominees. Key points include Sarissa's historical negative impact on shareholder value, with a median total shareholder return of -24% at companies with Sarissa-nominated directors. Amarin emphasizes its commitment to maximizing shareholder value and has initiated cost-saving measures, achieving $50 million in reductions in 2022.
Sarissa Capital Management has launched a dedicated website for Amarin Corporation shareholders, emphasizing the importance of voting with the BLUE proxy card by February 21, 2023, at 11:59 PM EST. The proxy card will allow shareholders to support Sarissa's slate of nominees at Amarin's upcoming general meeting on February 28, 2023. Sarissa advises against using Amarin’s WHITE proxy card. Shareholders can access important documents via the SEC website or Sarissa's site for further instructions on voting and to view their presentation.