AMRN - Amarin spikes as Israel clears heart disease therapy

April, 04 2023 08:35 AM Amarin Corporation plc

2023-04-04 08:35:01 ET

Ireland-based biotech Amarin Corporation ( NASDAQ: AMRN ) added ~5% pre-market Tuesday after announcing that Israel’s Ministry of Health approved its fish oil-derived heart disease therapy Vazkepa (icosapent ethyl).
Accordingly, Vazkepa will be available in Israel to reduce the risk of cardiovascular events in adults treated with statins and at high cardiovascular risk with elevated triglycerides and other high-risk characteristics such as diabetes.
The company has already started discussions seeking partnerships for Vazkepa ahead of potential pricing and reimbursement in Israel beginning in 2024.
“We are proud of this important milestone in that effort, and that patients in Israel may soon be able to access this important therapeutic option to address their residual cardiovascular risk,” Chief Scientific Officer Steven Ketchum remarked.
Last week, Amarin ( AMRN ) CEO Karim Mikhail stepped down following a proxy battle with activist investor Sarissa Capital.
According to Seeking Alpha author Allen Cooke Amarin ( AMRN ) is poised to generate several catalysts after reporting positive cash flow in the U.S. for Q3 2022.

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