Amarin Shares Fall Despite Regulatory OK

Health and Healthcare

Published: July 27, 2012 11:23 am

Last Updated: July 27, 2012 11:24 am

Usually, shares of drug makers soar following the announcement that the Foood and Drug Administration approved a drug.

Amarin Corp. (NASDAQ: AMRN) announced approval by the FDA for Vascepta to patients very high triglycerides. Yet, shares of the company are down 9.89% to $13.80 on trading volume of 14 million shares. The 52-week high is $15.96.

A part of the problem is that the stock was rising, albeit slowly, throughout the week based on anticipation for the announcement. While the FDA approval was expected, it hasn’t yet received approval for New Chemical Entity status to make sure there isn’t a generic competitor.

Investors are also looking for the company to be sold. Companies that could be strong candidates include AstraZeneca PLC (LSE: AZN), Pfizer, Inc. (NYSE: PFE) and Abbott Laboratories (NYSE: ABT), according to a Bloomberg article on Friday.

Samuel Weigley

Are You Ahead, or Behind on Retirement? (sponsor)

If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.

Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.

Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.