Amarin (AMRN) - Get Amarin Corporation Plc Sponsored ADR Report shares jumped on Friday after the drugmaker reported data from a Phase 3 clinical trial in China of its Vascepa cardiovascular-disease treatment.
The study met its primary goal of demonstrating a safety profile similar to that of a placebo. The results will help support the Dublin company's effort to gain regulatory clearance for the drug in mainland China.
"This pivotal study in China mirrored Amarin’s Marine study in patients from the U.S. and other countries, and we are pleased that the data show consistency across the Chinese and non-Chinese study populations," Chief Scientific Officer Steven Ketchum said in a statement.
Amarin shares at last check were trading 4.5% higher at $4.75.
Earlier this year, Amarin lost its bid in a federal appeals court to revive patents on Vascepa, a day after the court heard arguments in the case.
The U.S. Court of Appeals for the Federal Circuit in Washington upheld the March ruling by a U.S. District Court in Nevada that invalidated six patents on the drug and wiped out $3.5 billion in market value.
Generic-drug makers Hikma Pharmaceuticals HKMPY and Dr. Reddy's Laboratories (RDY) - Get Dr. Reddy's Laboratories Ltd. Sponsored ADR Report had sought to overturn the patents so they could begin to produce generic versions of the medication, which is based partly on fish oil.
The appeals court made its ruling without opinion one day after hearing arguments in the case.