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 (NASDAQ: AMRN) announced that Medsafe in New Zealand has granted regulatory approval for VAZKEPA (icosapent ethyl) to reduce cardiovascular (CV) event risks in statin-treated adults with high CV risk and elevated triglycerides. This marks the seventh approval for the VASCEPA/VAZKEPA franchise in key international markets since 2022. Cardiovascular disease significantly impacts New Zealand, with about 175,000 adults affected. Amarin is now seeking commercialization partners to support VAZKEPA's introduction in New Zealand.
Amarin Corporation plc (NASDAQ:AMRN) announced that CEO Karim Mikhail will participate in the SVB Securities Global Biopharma Conference, scheduled for February 14, 2023, at 10:40 a.m. ET. This virtual conference will span from February 13-16, 2023. The presentation will be available via webcast and will be archived on the company's website.
Amarin focuses on cardiovascular disease management and is committed to advancing treatment options.
Amarin Corporation plc (NASDAQ:AMRN) responds to Sarissa Capital's intervention, highlighting a comprehensive and independent board refreshment process. Amarin emphasizes its recognition of shareholder frustration due to U.S. IP losses and outlines a new strategy alongside a revamped management team. The board has successfully negotiated pricing for VAZKEPA® in five European markets and has secured six international regulatory approvals. Despite facing generic competition, Amarin maintains approximately 60% market share, a competitive advantage in the industry. The company aims to continue stabilizing revenue and advancing its fixed-dose combination program.
Sarissa Capital Management has expressed deep concern over Amarin's board governance, highlighting the absence of shareholder representation. In 2022, Amarin's stock plummeted by over two-thirds, translating to a loss of more than $840 million in equity for its shareholders. Key issues include delays in the European launch, challenges in securing reimbursement in Germany, and ineffective management responses that led to significant capital destruction. Sarissa, as Amarin's largest shareholder, is pushing for a special meeting to remove Chairman Per Wold-Olsen and appoint new directors to enhance shareholder interests.
Amarin Corporation (NASDAQ:AMRN) announced a requisition by Sarissa Capital Management to convene a Special Meeting of Shareholders. The Company reported significant operational progress and a 70% refreshment of its Board of Directors, enhancing expertise in finance and global commercialization. Positive developments include successful pricing and reimbursement strategies in Europe, stabilization in the U.S. market, and improved cash flow of $4 million in Q4 2022. Amarin is focused on achieving $100 million in cost reductions by mid-2023. A proxy contest with Sarissa may disrupt ongoing strategic efforts.
Sarissa Capital Management is calling for drastic changes to the Amarin Corporation board, citing a lack of credibility and responsiveness to shareholder concerns. Following a shareholder meeting where mistrust towards the board was evident, Sarissa expressed disappointment that their nominee suggestions were ignored. The board's recent acknowledgment of the need for refreshment is seen as insufficient. Sarissa is pursuing a special meeting to add seven directors and remove Chairman Per Wold-Olsen. They warn of legal action if their shareholder rights are obstructed.
Amarin Corporation plc (NASDAQ:AMRN) reported a preliminary revenue of $88-$90 million for Q4 2022, totaling $367-$369 million for the full year, marking the fourth consecutive quarter of revenue stabilization in the U.S. Cash reserves stand at approximately $310 million, with a positive cash flow of $4 million in Q4. The company continues to make progress in European markets, securing positive reimbursement decisions in five countries and pursuing negotiations in others. The CEO emphasized a focus on growth and adaptation to market conditions.
Amarin Corporation plc (NASDAQ:AMRN) has appointed Dr. Murray W. Stewart to its Board of Directors, following a significant board refreshment initiative that has resulted in around 70% new independent directors within the past year. Dr. Stewart brings over 30 years of cardiometabolic academic and industry experience, including roles at GlaxoSmithKline and Rhythm Pharmaceuticals. His appointment aligns with Amarin's strategy to expand into Europe and diversify its product portfolio, enhancing its focus on global, cardiometabolic health.
Amarin Corporation plc (NASDAQ:AMRN) announced that CEO Karim Mikhail will speak at the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023, at 8:15 p.m. ET. This event occurs from January 9-12, 2023, in San Francisco, California. The presentation will be webcast live and available for later viewing on Amarin's Investor Relations webpage.
Amarin focuses on cardiovascular disease management, emphasizing scientific research and clinical trials as it expands its commercial presence.
Amarin Corporation plc (NASDAQ:AMRN) announced the approval of its drug VAZKEPA (icosapent ethyl) by Switzerland's Swissmedic. The drug is indicated for reducing cardiovascular risks in high-risk adults. This marks the sixth approval of the VAZKEPA franchise in 2022. Amarin is concurrently pursuing national pricing and reimbursement, expected to complete in 2023. The approval supports Amarin's strategy to strengthen its European operations, having established a regional hub in Zug, Switzerland, in 2021, which hosts over 30 employees dedicated to commercial and medical roles.