Health and Healthcare
Amarin Shares Fall Despite Regulatory OK
Published:
Last Updated:
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
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
