Amarin Patent Appeal Is a Coin Toss With Billions on the Line

Amarin Corp. analysts say investors should bet on the drugmaker’s ability to overturn a devastating patent ruling despite odds that resemble a coin flip.

Analysts expect large gains for the shares if Amarin prevails in the Federal Circuit Court of Appeals, where oral arguments begin Wednesday. The company is challenging a U.S. judge’s decision in March to invalidate patents for its heart pill Vascepa, which wiped out $3.5 billion in market value.