Why Amarin Stock Was Plunging This Week
Armies and stocks are similar in one respect: People invested in them are usually displeased when they retreat. So it was with Amarin (NASDAQ: AMRN) shareholders, who traded the stock down this week after the company announced it was pulling out of an important market in Europe. As of Friday before the market open, Amarin's stock was down by nearly 18% week to date, according to data provided by S&P Global Market Intelligence.
Last Friday after market close, Amarin disclosed in a regulatory filing that it is ceasing operations in Germany, effective Sept. 1. This will result in the cessation of the sale of Vazkepa (known as Vascepa in the U.S.), a cardiovascular drug that is the company's only commercialized product.
The move comes after discussions with healthcare officials in that country failed to produce a reimbursement price Amarin considered "viable," in its words, for Vazkepa.
Source Fool.com
