Shares of Amarin (NASDAQ: AMRN) tumbled over 67% in the first six months of the year, according to data provided by S&P Global Market Intelligence. The stock slid from the beginning of the year through most of the first quarter, but the precipitous drop was the result of an unfavorable ruling on the company's intellectual property at the end of March.
The United States District Court for the District of Nevada ruled in favor of two generic companies seeking to market generic formulations of Amarin's all-important product, Vascepa. The ruling only applies to product sales in the United States, and is being appealed by Amarin, but Wall Street began to acknowledge a future in which Vascepa would generate billions of dollars less in revenue than previously expected. Has the pharma stock been unfairly punished?
Image source: Getty Images.