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Amarin Reports Second Quarter 2012 Financial Results And Provides Update On Operations

BEDMINSTER, N.J. and DUBLIN, Ireland, Aug. 8, 2012 (GLOBE NEWSWIRE) -- Amarin Corporation plc (Nasdaq:AMRN), a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health, today announced financial results for the quarter ended June 30, 2012 and provided an update on company operations.

Amarin noted the following highlights of progress made since the quarter ended March 31, 2012:

  • FDA approval of Vascepa TM (icosapent ethyl) capsules as an adjunct to diet to reduce triglyceride (TG) levels in adult patients with severe (TG≥500 mg/dL) hypertriglyceridemia
  • Seven patent applications either issued, allowed or in advanced stages of prosecution with the United States Patent and Trademark Office, in addition to 25 other U.S. patent applications pending
  • Receipt of an Intention to Grant letter for our MARINE method of use patent in Europe
  • Vascepa ANCHOR Phase 3 clinical trial data published in The American Journal of Cardiology
  • Vascepa Phase 3 clinical data presented at the National Lipid Association and American Diabetes Association scientific sessions
  • Cash balance of $250.3 million at June 30, 2012

"Our recent progress has been broad and highlighted by our first U.S. marketing approval of Vascepa and continued progress toward protecting the commercial potential of Vascepa with additional patent protection," stated Joseph Zakrzewski, Amarin's Chairman and Chief Executive Officer. "We are now focused on our post-approval strategy for Vascepa. We are very pleased with the label for our initial approval and we continue to believe that Vascepa has the potential to redefine lipid management."

Operational update

Vascepa regulatory update

On July 26, 2012, the U.S. Food and Drug Administration (FDA) approved Vascepa (icosapent ethyl) capsules (formerly known as AMR101) as an adjunct to diet to reduce triglyceride (TG) levels in adult patients with severe (TG >500mg/dL) hypertriglyceridemia. The most commonly reported adverse reaction in Vascepa treated patients was arthralgia.

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