Amarin settlement with Apotex an 'incremental positive,' says Stifel - InvestingChannel

Amarin settlement with Apotex an ‘incremental positive,’ says Stifel

Stifel analyst Derek Archila reiterates his Hold rating on Amarin (AMRN) shares after the company settled with Apotex regarding its ANDA application for generic Vascepa. Apotex cannot sell a generic version of Vascepa until August 2029, which is the same date as Amarin’s settlement with Teva (TEVA), noted Archila. While this settlement with another generic ANDA filer is an “incremental positive,” Archila doesn’t see this a major stock moving catalyst since Apotex is not a party in the ongoing appeal of the district court’s decision invalidating Vascepa’s patents, he tells investors. He expects Amarin shares to remain range-bound until closer to the hearing on the Hikma and Dr. Reddy’s (RDY) case later this year, added Archila.