Amarin (AMRN) Lower as Competitor Omthera Pharma (OMTH) Files IPO
Tweet
Share
E-mailGet Alerts AMRN Hot Sheet
Join SI Premium – FREE
Amarin plc (Nasdaq: AMRN) is a little pressured Tuesday following the filing of an Initial Public Offering by one of its competitors.
In an S-1 filed with the U.S. SEC, Omthera Pharmaceuticals (Nasdaq: OMTH) detailed plans for a $75 million IPO. One part of the S-1 highlights competitors its up against:
GlaxoSmithKline plc (NYSE: GSK) currently markets in the United States Lovaza, a prescription omega-3 fatty acid for patients with severe hypertriglyceridemia and Abbott Laboratories (NYSE: ABT) currently markets Tricor and Trilipix (both fibrates) and Niaspan (niacin) for treatment of severe hypertriglyceridemia and high triglycerides. In addition, pursuant to a March 2011 agreement to settle patent litigation related to Lovaza in the United States, Pronova BioPharm Norge AS, which holds patents for Lovaza, granted Apotex Corp. and Apotex Inc. a license to enter the U.S. market with a generic version of Lovaza in the first quarter of 2015, or potentially sooner. Generic versions of Lovaza from Apotex or other companies, if available, will also create greater market competition for our product. Amarin Corporation currently markets Vascepa, an ethyl-ester form of EPA, for the treatment of patients with severe hypertriglyceridemia.
Shares of Amarin are down 0.5 percent in afternoon trading.
In an S-1 filed with the U.S. SEC, Omthera Pharmaceuticals (Nasdaq: OMTH) detailed plans for a $75 million IPO. One part of the S-1 highlights competitors its up against:
GlaxoSmithKline plc (NYSE: GSK) currently markets in the United States Lovaza, a prescription omega-3 fatty acid for patients with severe hypertriglyceridemia and Abbott Laboratories (NYSE: ABT) currently markets Tricor and Trilipix (both fibrates) and Niaspan (niacin) for treatment of severe hypertriglyceridemia and high triglycerides. In addition, pursuant to a March 2011 agreement to settle patent litigation related to Lovaza in the United States, Pronova BioPharm Norge AS, which holds patents for Lovaza, granted Apotex Corp. and Apotex Inc. a license to enter the U.S. market with a generic version of Lovaza in the first quarter of 2015, or potentially sooner. Generic versions of Lovaza from Apotex or other companies, if available, will also create greater market competition for our product. Amarin Corporation currently markets Vascepa, an ethyl-ester form of EPA, for the treatment of patients with severe hypertriglyceridemia.
Shares of Amarin are down 0.5 percent in afternoon trading.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Matinas BioPharma to merge with GH Power, sell drug unit to Azurity
- Samos Energy raises $230M in NYSE IPO for energy acquisitions
- Jones Ventures INTL Acquisition1 prices $200M IPO on Nasdaq
Create E-mail Alert Related Categories
IPOs, Insiders' Blog, Trader TalkRelated Entities
S1Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
