Why Amarin Fell Again Today
This surely won't be a week to remember for Amarin (NASDAQ: AMRN). Following Monday's stinging Supreme Court loss regarding patent protection for its one and only commercialized drug, on Tuesday one of the company's rivals announced the launch of a new generic for that product. Amarin's shares fell by 3.2%.
The ruling scotched Amarin's attempt to dispute a lower court's decision that its core patents on the drug, Vascepa, were invalid. So now that they are entirely free to make Vascepa generics without worrying about a legal reversal, pharmaceutical companies eagerly continue to do so.
On Tuesday Dr. Reddy's Laboratories (NYSE: RDY) formally launched its icosapent ethyl capsules, which will be available in 120-count bottles of 1-gram capsules. This product was approved by the Food and Drug Administration (FDA) last August.
Source Fool.com
