Why Amarin Stock Was a Winner Today
A good day for a biotech is when one of its products wins regulatory authorization or approval. That was the case on Tuesday with Amarin (NASDAQ: AMRN), which announced that its sole commercialized drug had gotten the green light from a regulator across the Pacific Ocean. As a result, the company's share price crept up by almost 1%, more or less in line with the S&P 500 index's gain on the day.
Before market open, Amarin announced that its Vazkepa (brand-named Vascepa in the U.S.) has been approved by Australia's Therapeutic Good Administration (TGA). The catch is that the approval is somewhat limited, as it covers only statin-treated adult patients with elevated triglycerides, which have demonstrated high risk of cardiovascular afflictions.
Additionally, the biotech has been granted patents guaranteeing market exclusivity for Vazkepa "into the early 2030s." It did not get more specific.
Source Fool.com
