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Nov. 12, 2019, 10:04 a.m. EST

Shares of Amarin rise on favorable opinion from FDA committee

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By Jaimy Lee

Shares of Amarin Corp. /zigman2/quotes/201885540/composite AMRN +2.93% rose about 20% on Nasdaq-leading volume after a Food and Drug Administration committee released documents saying that the company' prescription fish-oil pill Vascepa has a "favorable benefit/risk profile" for a cardiovascular indication. The FDA's Endocrinologic and Metabolic Drugs Advisory Committee is expected to meet Thursday to discuss the company's application for the new indication. Amarin's net product revenue rose 104% to $112.3 million in the third quarter of 2019, up from $55 million in the like-period a year ago. That increase was driven by higher sales of Vascepa, Amarin's only FDA-approved drug. The company also said last week that it plans to double the size of its sales force to 800 from 400 in preparation of a potential FDA approval for the new indication. The FDA action date for approval is Dec. 28. Shares of Amarin are up 41.51% year-to-date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.91% has risen 23%.

/zigman2/quotes/201885540/composite
US : U.S.: Nasdaq
$ 22.45
+0.64 +2.93%
Volume: 5.17M
Dec. 6, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.03 billion
Rev. per Employee
$431,748
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/zigman2/quotes/210599714/realtime
US : S&P US
3,145.91
+28.48 +0.91%
Volume: 1.70B
Dec. 6, 2019 5:07p
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