News for 'AMRN' - (Amarin drug gets 1st patent)
GROTON, May 30, 2012 (The Day - McClatchy-Tribune Information Services via
COMTEX) -- Amarin Corp. plc, the Irish drug company with
research-and-development headquarters on Thames Street, said Tuesday that it has
received the first patent for its lead heart drug, currently known as AMR101.
AMR101, which will be marketed under a different name if the U.S. Food and Drug
Administation gives its stamp of approval later this year, has been shown to
control the buildup of fat in the blood, a key factor in heart disease. It is
expected to be an improvement over a blockbuster GlaxoSmithKline drug known as
Lovaza that also controls fat buildup.
Amarin Chairman and Chief Executive Officer Joseph Zakrzewski called AMR101's
patent approval "an important step forward" for the company.
The patent, known by its number 8,188,146 and titled "Highly Purified Ethyl EPA
and Other EPA Derivatives," settles once and for all the question over whether
Amarin's promising heart drug would pass muster with the U.S. Patent and
Trademark Office. The company's stock, which surged near the $20 level after a
series of encouraging data was released during 2010-2011, had been battered by
late last year, falling to about a third of its high.
By Tuesday, however, the stock had regained much of its luster as investors came
to expect patent approval, and Amarin's stock initially fell on news of the U.S.
approval. But an announcement later in the day that Teva Pharmaceuticals and Par
Pharma had lost their bid to sell a generic form of Lovaza sent Amarin's shares
into a steep incline, with the price settling $12.27 a share, up more than 6
percent.
The patent for AMR101, which is a highly purified Omega-3 fish oil, protects
Amarin's intellectual property through 2030. It also could remove any doubts as
to the company's suitability as a buyout candidate or partner, though Amarin
officials have not yet tipped their hand on which option they would prefer.
Amarin promised, however, that it would continue seeking other avenues of patent
protection and said that it currently has more than 25 applications pending in
the United States to block potential rivals from cashing in on copycat versions
of AMR101.
l.howard@theday.com
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Lee Howard
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