Is Amarin Stock a Buy?
Yesterday, Amarin Corp. (NASDAQ: AMRN) lost 70% of its value in a single trading session. The biopharma's shares collapsed after the U.S. District Court for the District of Nevada invalidated Vascepa's patent firewall against generic competitors inside the United States.
Vascepa is a highly refined omega-3 treatment approved by the U.S. Food and Drug Administration for patients with high triglyceride levels who are at risk for cardiovascular disease, despite being on statin therapy. The drug was widely expected by Wall Street analysts and industry insiders to achieve megablockbuster status (greater than $5 billion in annual sales) before the end of the decade. But this adverse patent ruling puts that enormous peak sales figure in serious jeopardy.
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Source Fool.com
