Amarin (AMRN) Higher as Teva (TEVA) Said to be Waiting in the Wings for a Takeover
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Amarin Corp Plc (NASDAQ: AMRN) is surging higher in pre-open trading Thursday following reports from Calcalist that Teva Pharmaceutical (NASDAQ: TEVA) is the leading candidate to acquire the company. AstraZeneca (NYSE: AZN) is also said to be interested.
"Calcalist learned that Teva is one of the leading contenders to acquire Irish pharmaceutical company Amarin," the report stated.
In July, the FDA approved Amarin's high triglycerides drug Vascepa although NCE designation has been illusive and has been holding up potential buyers.
In its recent third quarter conference call, Amarin indicated that negotiations with big pharma companies have been hampered by the lack of clarity on NCE status. "A marketing exclusivity determination may help to clarify the ultimate path for Vascepa commercialization among Amarin's three previously-disclosed potential paths: an acquisition of Amarin, a strategic collaboration, or self-commercialization, the latter of which could include third-party support," the company said.
Shares of AMRN last traded at $11.65, up 9 percent.
"Calcalist learned that Teva is one of the leading contenders to acquire Irish pharmaceutical company Amarin," the report stated.
In July, the FDA approved Amarin's high triglycerides drug Vascepa although NCE designation has been illusive and has been holding up potential buyers.
In its recent third quarter conference call, Amarin indicated that negotiations with big pharma companies have been hampered by the lack of clarity on NCE status. "A marketing exclusivity determination may help to clarify the ultimate path for Vascepa commercialization among Amarin's three previously-disclosed potential paths: an acquisition of Amarin, a strategic collaboration, or self-commercialization, the latter of which could include third-party support," the company said.
Shares of AMRN last traded at $11.65, up 9 percent.
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