Why Amarin Stock Is Crashing Today
Amarin (NASDAQ: AMRN) shares were crashing on Tuesday, plunging 69.8% lower as of 9:55 a.m. The steep decline came after the U.S. District Court for the District of Nevada ruled in favor of generic-drug companies and invalidated Amarin's patent for Vascepa, which is approved by the FDA for treating high triglyceride levels and reducing cardiovascular risk.
Vascepa is Amarin's only approved drug. The entrance of generic rivals on the market would be a huge blow to the company, which only recently began promoting Vascepa as a treatment for reducing cardiovascular risk.
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Source Fool.com
