SVB Leerink sees possible opportunity for Amarin to ‘salvage Vascepa’ in U.S.

SVB Leerink analyst Ami Fadia said an October 2 ruling in favor of GlaxoSmithKline (GSK) from the United States Court of Appeals for the Federal Circuit related to Coreg has potential readthrough for Amarin (AMRN) and may present “an opportunity for Amarin to salvage Vascepa” in the United States.

Given that Amarin’s stock price likely assumes minimal value for the U.S., any settlement for sometime between now and 2029 presents meaningful upside, according to Fadia. However, she still views the probability of upside scenarios as “non-negligible, not meaningful,” and therefore Fadia is sticking with a base case assumption that U.S. generics launch as early as this quarter. The analyst, who thinks the EU opportunity is worth almost twice the current stock levels, reiterates an Outperform rating and $12 price target on Amarin shares.

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