Global pharma giant Pfizer is rumored to be planning a takeover of biotech Amarin, a biopharmaceutical venture founded in 1993 and headquartered in Bedminster, NJ. The company develops and markets medicines for the treatment of cardiovascular disease. It has developed the drug Vascepa (AMR 101), a prescription grade omega-3-fatty acid. In July 2012, their lead-candidate drug named Vascepta (AMR-101) received FDA approval competing against GSK’s Lovaza. On approximately $205 million in revenue, the company EBIDTA loss is nearly $83 million. Its market capitalization is currently at $5.8 billion.
PMLive reports that Pfizer is rumored to be on the brink of a deal with them. Apparently, Pfizer is interested in “wake of stellar data for its purified fish oil product Vascepa in cardiovascular disease prevention. During the REDUCE-IT trial commercial sponsor Amarin found that the drug cut the risk of heart attacks and stroke by 25 percent in high-risk cardiovascular patients. According to the PMLive report results “rivalled the efficacy seen in cardiovascular outcomes trials for Amgen’s PCSK9 antibody Repatha (evolvocumab), and Vascepa’s relatively low cost and lack of side effects means it could become an attractive option for healthcare systems.
PMLive reports that Amarin shares have rose more than 20 percent.Source: PMLIve