Amarin (AMRN) Lower as Competitor Omthera Pharma (OMTH) Files IPO
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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.
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