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Amarin Reports Fourth Quarter and Year-End 2013 Financial Results and Provides Update on Operations

Amarin Reports Fourth Quarter and Year-End 2013 Financial Results and Provides
Update on Operations

Conference Call Set for 4:30 p.m. EST Today

BEDMINSTER, N.J. and DUBLIN, Ireland, Feb. 27, 2014 (GLOBE NEWSWIRE) -- Amarin
Corporation plc (Nasdaq:AMRN), a late stage biopharmaceutical company focused
on the commercialization and development of therapeutics to improve
cardiovascular health, today announced financial results for the quarter and
year ended December 31, 2013, and provided an update on company operations.

Key Amarin milestones since September 30, 2013 include:

  *Recognized $26.4 million in product revenue from Vascepa^® sales in 2013,
    the first year of Vascepa sales, including revenue growth to $10.1 million
    in Q4 despite an October reduction in sales force size
  *Normalized prescriptions (estimated) for the year ending December 31,
    2013, based upon data from Symphony Health Solutions and IMS Health,
    totaled approximately 225,000 and 195,000, respectively
  *Improved formulary access by increasing number of lives covered with Tier
    2 status to over 100 million, with over 200 million lives covered on
    formulary overall
  *Increased the number of physicians prescribing Vascepa to over 16,000
  *Surpassed 6,500 patients enrolled in the REDUCE-IT cardiovascular outcomes
    trial
  *Increased patents issued or allowed in the United States to 40, all but
    two of the 40 have patent terms extending into 2030, with more than 30
    additional patent applications being prosecuted in the United States alone
  *Reduced worldwide staffing by half in October to reduce costs and better
    match the operational size of Amarin for commercialization of the current
    indication for Vascepa following a negative recommendation from an FDA
    advisory committee related to the pending ANCHOR sNDA
  *Began appeal process following the decision of the Division of Metabolism
    and Endocrinology Products (DMEP) within the U.S. Food and Drug
    Administration (FDA) to rescind the Special Protocol Assessment (SPA)
    agreement for the ANCHOR study

"Just over one year ago, the culmination of many years of hard work came to
fruition as Vascepa was first made available to physicians and patients in the
United States," said John F. Thero, President and Chief Executive Officer of
Amarin. "2013 was a year of significant achievement for Amarin as a commercial
organization was established and Vascepa helped to improve patient care
options in the treatment of severe hypertriglyceridemia. As we embark on our
second year as a commercial organization we stand by our commitment to work
toward label expansion for Vascepa to improve treatment options for patients
with mixed dyslipidemia."

Operational update

Commercialization update

Vascepa is marketed as an adjunct to diet to reduce triglyceride levels in
adult patients with severe ( ≥ 500 mg/dL) hypertriglyceridemia, the MARINE
indication. We began marketing Vascepa in late January 2013. Vascepa labeling
reflects a spectrum of favorable effects on lipid and lipoprotein parameters
at 4 g/day, including statistically significant reductions in TG, Apo B,
VLDL-C, and non-HDL-C, with no increase in LDL-C, also known as bad
cholesterol, and a safety profile that is comparable to placebo. The most
common reported adverse reaction (incidence > 2% and greater than placebo) was
arthralgia (2.3% for Vascepa, 1.0% for placebo). With the benefit of this
clinical profile, Amarin made significant progress throughout 2013 in multiple
areas of the Vascepa commercialization plan. Vascepa is now available on
formulary to over 200 million lives in the United States, including over 100
million in Tier 2 coverage. The conversion of these lives to Tier 2 status has
helped enable Amarin to grow the Vascepa prescriber base to over 16,000
physicians since launch.

Amarin believes that Vascepa sales will continue to grow with the promotion of
the MARINE indication. In late 2013, Amarin shifted its main focus to the
approximately 7,000 targeted physicians who are responsible for a significant
portion of the prescriptions generated for the leading prescription omega-3
therapy indicated for the treatment of severe hypertriglyceridemia. In
addition to Amarin's direct sales outreach, focus on this important customer
segment throughout 2014 will be achieved through multichannel awareness
campaigns, including medical education and promotional educational programs;
disease state and other direct personal campaigns; managed care education and
presence at key medical association and scientific meetings.

Vascepa additional indication

In parallel with marketing Vascepa for the MARINE indication, Amarin is
vigorously pursuing FDA approval of Vascepa for the ANCHOR indication, a
second indication as an adjunct to diet and exercise for adult patients with
mixed dyslipidemia who despite optimized statin therapy have TG levels between
200 and 499 mg/dL. As previously announced, FDA rescinded the ANCHOR SPA
agreement and has not yet made a determination on Amarin's supplemental NDA
for the ANCHOR indication. Amarin continues to seek approval of the ANCHOR
indication and has taken steps to appeal the FDA's rescission of the SPA.
Based on planned discussions with the FDA, Amarin will assess its options with
respect to the ANCHOR sNDA and the extent to which Amarin should continue its
other clinical trials, including the ongoing REDUCE-IT outcomes trial.

REDUCE-IT and other Vascepa-related clinical development

Enrollment for the REDUCE-IT outcomes trial of Vascepa continues at over 400
sites spanning 11 countries. Earlier this year enrollment for the REDUCE-IT
trial surpassed 6,500 patients. As previously reported, the mean and median
baseline triglyceride levels for patients participating to date in the
REDUCE-IT cardiovascular outcomes study is > 200 mg/dL. Results of the
REDUCE-IT study will not be available until a specified number of
cardiovascular events have been observed. Based on current expectations,
unless feedback from pending discussion with the FDA regarding the ANCHOR sNDA
results in modification or termination of the REDUCE-IT study, completion of
this blinded study is anticipated in or about 2017. Amarin estimates that over
$100 million is required to complete this study. While Amarin remains
scientifically committed to continuing the REDUCE-IT study, Amarin anticipates
that the trial may be difficult to complete in its current form without the
expected revenues from the previously anticipated ANCHOR indication, as
communicated to the FDA.

Financial update

Amarin reported cash and cash equivalents on-hand of $191.5 million at
December 31, 2013.

Net product revenues for the three and twelve months ended December 31, 2013
were $10.1 million and $26.4 million, as compared to no revenues in the
corresponding periods of 2012. In accordance with accounting principles
generally accepted in the U.S. (US GAAP), and consistent with previously
reported revenue results, until the company has more operating history with
the commercialization of Vascepa, it is recognizing revenue based not on its
sales to wholesalers but based on the resale of Vascepa for the purpose of
filling prescriptions. For the year ended December 31, 2013, the net value of
Vascepa sold to wholesalers was $28.1 million, and, as a result, in addition
to $26.4 million in recognized revenue, Amarin recorded deferred revenue of
$1.7 million at December 31, 2013. Cash collections from the sale of Vascepa
in the quarter ended December 31, 2013 were approximately $13.2 million for a
total of $31.7 million collected from wholesalers since the launch of Vascepa.

Consistent with industry practice, the net price of Vascepa for the three and
twelve months ended December 31, 2013 reflects deductions for costs of
Amarin's co-payment rebate card program and customary payor rebates and
allowances. The net price also includes adjustments for other customary
amounts as well as the deduction of one-time discounts paid to wholesalers to
stock Vascepa in advance of Vascepa's launch in January 2013, which discounted
stock was principally sold during the first half of 2013.

Cost of goods sold for the three and twelve months ended December 31, 2013 was
$4.1 million and $11.9 million, respectively. Gross margin improved to 59% in
Q4 2013 from 56% in Q3, 48% in Q2 and 45% in Q1, which was primarily driven by
lower unit cost API purchases. Average gross margin was 55% for the year ended
December 31, 2013. The majority of Vascepa capsules included in cost of goods
sold for the year ended December 31, 2013 included API sourced from a single
API supplier. Amarin's purchases of API from this supplier in 2012 and 2013
are at higher cost per kilogram than expected future purchases from this
supplier and from Amarin's other API suppliers due to more favorable economic
terms under such supply agreements.

Under U.S. GAAP, Amarin reported a net loss of $15.4 million in the fourth
quarter of 2013, or basic and diluted loss per share of $0.09 and $0.27,
respectively. This net loss included $0.5 million in non-cash, share-based
compensation expense, $2.5 million in non-cash warrant compensation income,
and a $26.7 million non-cash gain on the change in the fair value of
derivatives. For the year ended December 31, 2013, Amarin reported a net loss
of $166.2 million, or basic and diluted loss per share of $1.03 and $1.28,
respectively. This net loss included $14.7 million in non-cash share-based
compensation expense, $3.7 million in non-cash warrant compensation income,
and a $47.7 million gain on the change in the fair value of derivatives.

Excluding non-cash gains or losses for share-based compensation, warrant
compensation and the change in fair value of derivatives, non-GAAP adjusted
net loss was $44.1 million for the fourth quarter of 2013, or non-GAAP
adjusted basic and diluted loss per share of $0.26, as compared to non-GAAP
adjusted net loss of $42.0 million, or non-GAAP adjusted basic and diluted
loss per share of $0.28 for the same period in 2012. Adjusted net loss was
$203.0 million for the twelve months ended December 31, 2013, or non-GAAP
adjusted basic and diluted loss per share of $1.26, as compared to non-GAAP
adjusted net loss of $125.5 million, or non-GAAP adjusted basic and diluted
loss per share of $0.87 for the same period in 2012.

Amarin reported cash and cash equivalents decreased in aggregate by $68.7
million from December 31, 2012 as compared to December 31, 2013. Net cash
outflows from operations were $190.3 million for the year ended December 31,
2013. Net cash outflows from operations for the three months ended December
31, 2013 were $33.1 million as compared to $44.9 million in net cash outflows
from operations for the three months ended September 30, 2013, representing a
net decrease of $11.8 million. The net cash outflows for the three months
ended December 31, 2013 included approximately $2.7 million in payments for
severance and employee benefits associated with a company-wide reduction in
force in October 2013. As a result of the headcount reductions and additional
anticipated reductions in spend, Amarin expects that it will experience
continued reductions in quarterly net cash outflows from operations with
future quarterly cash outflows below the results of the fourth quarter. Amarin
estimates that during 2014 operating activities will result in a net use of
cash of less than $80 million.

During the year ended December 31, 2013, net cash outflows included
approximately $90.4 million in sales and marketing related expenses in
conjunction with the initial commercial launch of Vascepa, approximately $47.0
million of expenses in support of the REDUCE-IT cardiovascular outcomes study
inclusive of clinical trial materials and approximately $25.7 million for
Vascepa API, purchased in conjunction with the buildup of commercial supply.
Amarin's estimate of cash flows assumes lower purchases of commercial supply
in 2014 based on relatively high inventory balances on hand at the end of
2013.

Amarin's liabilities as of December 31, 2013, excluding the fair value of the
non-cash warrant derivative liability, totaled approximately $279.4 million,
which includes $149.3 million for the carrying value of exchangeable debt and
$87.7 million for the carrying value of the hybrid debt financing that we
entered into in December 2012.

As of December 31, 2013, Amarin had approximately 172.7 million American
Depository Shares (ADSs) and ordinary shares outstanding as well as
approximately 9.8 million and 9.3 million equivalent shares underlying
warrants and stock options, respectively, at average exercise prices of $1.44
and $6.64, respectively, and 0.2 million equivalent shares underlying
restricted or deferred stock units.

Amarin's operational priorities

Amarin's current operational priorities are:

  *Increasing revenues from sales of Vascepa
  *Continuing managed care migration coverage from Tier 3 to Tier 2
  *Continuing discussions with the FDA and vigorously pursuing the approval
    of Vascepa for the ANCHOR indication
  *Continuing to identify and implement cost saving opportunities

Conference call and webcast information

Amarin will host a conference call at 4:30 p.m. ET (9:30 p.m. UTC/GMT) today,
February 27, 2014. The conference call can be heard live via the investor
relations section of the company's website at www.amarincorp.com, or via
telephone by dialing 877-407-8033 within the United States or 201-689-8033
from outside the United States. A replay of the call will be made available
for a period of two weeks following the conference call. To hear a replay of
the call, dial 877-660-6853 (inside the United States) or 201-612-7415
(outside the United States). A replay of the call will also be available
through the company's website shortly after the call. For both dial-in numbers
please use conference ID 13576006.

Use of non-GAAP adjusted financial information

Included in this press release and the conference call referenced above are
non-GAAP adjusted financial information as defined by U.S. Securities and
Exchange Commission Regulation G. The GAAP financial measure most directly
comparable to each non-GAAP adjusted financial measure used or discussed, and
a reconciliation of the differences between each non-GAAP adjusted financial
measure and the comparable GAAP financial measure, are included in this press
release after the condensed consolidated financial statements.

Non-GAAP adjusted net loss was derived by taking GAAP net loss and adjusting
it for non-cash gains or losses for share-based compensation, warrant
compensation, and change in value of derivatives. Management believes that
these non-GAAP adjusted measures provide investors with a better understanding
of the company's historical results from its core business operations. While
management believes that these non-GAAP adjusted financial measures provide
useful supplemental information to investors regarding the underlying
performance of the company's business operations, investors are reminded to
consider these non-GAAP measures in addition to, and not as a substitute for,
financial performance measures prepared in accordance with GAAP. Non-GAAP
measures have limitations in that they do not reflect all of the amounts
associated with the company's results of operations as determined in
accordance with GAAP. In addition, it should be noted that these non-GAAP
financial measures may be different from non-GAAP measures used by other
companies, and management may utilize other measures to illustrate performance
in the future.

About Amarin

Amarin Corporation plc is a biopharmaceutical company focused on the
commercialization and development of therapeutics to improve cardiovascular
health. Amarin's product development program leverages its extensive
experience in lipid science and the potential therapeutic benefits of
polyunsaturated fatty acids. Vascepa^® (icosapent ethyl), Amarin's first FDA
approved product, is a patented, ultra pure omega-3 fatty acid product
comprising not less than 96% EPA. For more information about Vascepa visit
www.vascepa.com. For more information about Amarin visit www.amarincorp.com.

About Vascepa® (icosapent ethyl) capsules

Vascepa^® (icosapent ethyl) capsules, known in scientific literature as
AMR101, is a highly pure-EPA omega-3 prescription product in a 1 gram capsule.

Indications and Usage

  *Vascepa (icosapent ethyl) is indicated as an adjunct to diet to reduce
    triglyceride (TG) levels in adult patients with severe ( ≥ 500 mg/dL)
    hypertriglyceridemia.
  *The effect of Vascepa on the risk for pancreatitis and cardiovascular
    mortality and morbidity in patients with severe hypertriglyceridemia has
    not been determined.

Important Safety Information for Vascepa

  *Vascepa is contraindicated in patients with known hypersensitivity (e.g.,
    anaphylactic reaction) to Vascepa or any of its components and should be
    used with caution in patients with known hypersensitivity to fish and/or
    shellfish.
  *The most common reported adverse reaction (incidence > 2% and greater than
    placebo) was arthralgia (2.3% for Vascepa, 1.0% for placebo).

FULL VASCEPA PRESCRIBING INFORMATION CAN BE FOUND AT WWW.VASCEPA.COM.

Vascepa has been approved for use by the FDA as an adjunct to diet to reduce
triglyceride levels in adult patients with severe ( ≥ 500 mg/dL)
hypertriglyceridemia. Vascepa is under various stages of development for
potential use in other indications that have not been approved by the FDA.
Nothing in this press release should be construed as marketing the use of
Vascepa in any indication that has not been approved by the FDA.

Forward-looking statements

This press release contains forward-looking statements, including statements
about the commercial launch of Vascepa, including the number of total
prescriptions to date and the potential for future growth, expectations for
revenue growth, product awareness, receptivity of clinicians to and patient
experience with Vascepa; expectations regarding managed care coverage
migration from Tier 3 to Tier 2 and continued growth in Tier 2 coverage; the
pricing terms of commercial supply for Vascepa; expectations regarding gross
margins and cost of goods sold (COGS); the timing and outcome of FDA decisions
regarding Amarin's sNDA for the ANCHOR indication; the efficacy, safety and
therapeutic benefits of Vascepa; the ability of Amarin to continue the
REDUCE-IT study in light of company resources and other factors; Amarin's
ability to obtain sufficient patent protection for its product and product
candidates; and continued enrollment of patients in Amarin's REDUCE-IT
cardiovascular outcomes study. These forward-looking statements are not
promises or guarantees and involve substantial risks and uncertainties. In
particular, as disclosed in its previous filings with the U.S. Securities and
Exchange Commission, Amarin's ability to effectively commercialize Vascepa
will depend in part on its ability to create market demand for Vascepa through
education, marketing and sales activities, to achieve market acceptance of
Vascepa, to receive adequate levels of reimbursement from third-party payers,
to develop and maintain a consistent source of commercial supply at a
competitive price, and to maintain patent protection. Among the factors that
could cause actual results to differ materially from those described or
projected herein include the following: uncertainties associated generally
with research and development, clinical trials and related regulatory
approvals; the risk associated with the FDA's recent rescinding of the ANCHOR
SPA; the risk that FDA will follow the negative recommendation of the advisory
committee; the risk that the recent reductions in expenses will not be
sufficient or will hurt sales; the risk that historical REDUCE-IT clinical
trial enrollment and randomization rates may not be predictive of future
results and related cost may increase beyond expectations; and the risk that
patent applications may not result in issued patents. A further list and
description of these risks, uncertainties and other risks associated with an
investment in Amarin can be found in Amarin's filings with the U.S. Securities
and Exchange Commission, including its most recent Annual Report on Form 10-K.
Existing and prospective investors are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date hereof.
Amarin undertakes no obligation to update or revise the information contained
in this press release, whether as a result of new information, future events
or circumstances or otherwise.

Important information regarding prescriptions data and product revenue

The historical prescription data provided in this press release is based on
data published by third parties as of February 13, 2014. Although Amarin
believes these data are prepared on a period to period basis in a manner that
is generally consistent and that such results are indicative of current
prescription trends, these data are based on estimates and should not be
relied upon as definitive. These data may overstate or understate actual
prescriptions. Based on other data available to Amarin and the history of such
third-party prescription estimates in the early stages of launch of other new
pharmaceutical products, Amarin believes that the trends provided by this
information can be useful to gauge current prescription levels. Amarin
commenced its commercial launch of Vascepa on January 28, 2013. Accordingly,
there is a limited amount of information available at this time to determine
the actual number of total prescriptions for Vascepa. Amarin believes that
investors should view these data with caution, as data for this single and
limited period may not be representative of a trend consistent with the
results presented or otherwise predictive of future results. Seasonal
fluctuations in pharmaceutical sales, for example, may affect future
prescription trends of Vascepa as could change in prescriber sentiment and
other factors. Amarin believes investors should consider its results during
this quarter together with its results over several future quarters, or
longer, before making an assessment about potential future performance. The
commercial launch of a new pharmaceutical product is a complex undertaking,
and Amarin's ability to effectively and profitably launch Vascepa will depend
in part on its ability to generate market demand for Vascepa through
education, marketing and sales activities, its ability to achieve market
acceptance of Vascepa, its ability to generate product revenue and its ability
to receive adequate levels of reimbursement from third-party payers. See "Risk
Factors—Risks Related to the Commercialization and Development of Vascepa"
included in Part II, Item 1A. Risk Factors in Amarin's most recent Annual
Report on Form 10-K.

Availability of other information about Amarin

Investors and others should note that we communicate with our investors and
the public using our company website (www.amarincorp.com), our investor
relations website (http://www.amarincorp.com/investor-splash.html), including
but not limited to investor presentations and investor FAQs, Securities and
Exchange Commission filings, press releases, public conference calls and
webcasts. The information that we post on these channels and websites could be
deemed to be material information. As a result, we encourage investors, the
media, and others interested in Amarin to review the information that we post
on these channels, including our investor relations website, on a regular
basis. This list of channels may be updated from time to time on our investor
relations website and may include social media channels. The contents of our
website or these channels, or any other website that may be accessed from our
website or these channels, shall not be deemed incorporated by reference in
any filing under the Securities Act of 1933.

                                                          
CONSOLIDATED BALANCE SHEET DATA
(U.S. GAAP)
(Unaudited)
                                                          
                                              December 31, December 31,
                                               2013         2012
                                              (in thousands)
ASSETS
Current Assets:                                            
Cash and cash equivalents                      $ 191,514    $ 260,242
Restricted cash                                1,000        -----
Accounts receivable                            3,645        -----
Inventory, current                             21,209       21,262
Deferred tax assets                            471          937
Other current assets                           1,563        3,253
Total current assets                           $ 219,402    $ 285,694
                                                          
Property, plant and equipment, net             579          811
Inventory, long-term                           5,482        -----
Deferred tax assets                            11,944       8,044
Other non-current assets                       4,360        4,951
Intangible asset, net                          10,709       11,355
                                                          
Total Assets                                   $ 252,476    $ 310,855
                                                          
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:                                       
Accounts payable                               $ 6,375      $ 17,458
Accrued interest payable                       12,974       2,520
Warrant derivative liability, current          6,894        -----
Deferred revenue                               1,703        -----
Accrued expenses and other current liabilities 9,594        5,224
Total current liabilities                      $ 37,540     $ 25,202
                                                          
Long-Term Liabilities:                                     
Warrant derivative liability, long-term        -----        54,854
Exchangeable senior notes                      149,317      134,250
Long-term debt                                 87,717       85,153
Long-term debt redemption feature              11,100       14,577
Other long-term liabilities                    658          816
Total liabilities                              $ 286,332    $ 314,852
                                                          
Stockholders' Deficit:                                     
Common stock                                   141,477      124,597
Additional paid-in capital                     738,754      619,266
Treasury stock                                 (217)       (217)
Accumulated deficit                            (913,870)   (747,643)
Total stockholders' deficit                    $(33,856)   $(3,997)
                                                          
Total Liabilities and Stockholders' Deficit    $ 252,476    $ 310,855
                                                          

                                                              
CONSOLIDATED STATEMENTS OF OPERATIONS DATA
(U.S. GAAP)
(Unaudited)
                                                              
                      Three Months Ended December   Twelve Months Ended
                       31                            December 31
                      (in thousands, except         (in thousands, except
                      per share amounts)            per share amounts)
                      2013           2012           2013         2012
                                                              
Revenues               $ 10,106       $ -----        $ 26,351     $ -----
Operating expenses:                                            
Cost of goods sold     4,099          -----          11,912       -----
Research and           16,602         19,221         72,750       58,956
development (1)
Selling, general and   22,293         16,735         123,795      57,794
administrative (1)
Total operating        42,994         35,956         208,457      116,750
expenses
Operating loss         (32,888)      (35,956)      (182,106)   (116,750)
Gain (loss) on change
in fair value of       26,651        33,342        47,710      (35,344)
derivative liabilities
(2)
Interest expense, net  (7,190)       (4,709)       (33,836)    (17,547)
Other (expense)        (351)         (17)          (1,189)     (427)
income, net
Loss from operations   (13,778)      (7,340)       (169,421)   (170,068)
before taxes
(Provision for)
benefit from income    (1,633)       (3,229)       3,194       (9,116)
taxes
Net loss               $(15,411)     $ (10,569)    $ (166,227) $ (179,184)
Loss per share:                                                
Basic                  $ (0.09)      $ (0.07)      $ (1.03)    $ (1.24)
Diluted                $ (0.27)      $ (0.30)      $ (1.28)    $ (1.24)
                                                              
Weighted average                                               
shares:
Basic                  172,647        150,184        161,022      144,017
Diluted                176,122        157,170        167,070      144,017
                                                              
(1)Excluding non-cash stock and warrant based compensation, research and
development expenses were $69,913 and $55,256 for 2013 and 2012, respectively,
and selling, general and administrative expenses were $115,650 and $43,172,
respectively, for the same periods.
(2) Non-cash gains and losses result from changes in the fair value of a
warrant derivative liability and a long-term debt redemption feature.
                                                              

                                                             
The following is a reconciliation of the non-GAAP financial measures used by
Amarin to describe its financial results determined in accordance with United
States generally accepted accounting principles (GAAP).An explanation of
these measures is also included under the heading "Use of non-GAAP adjusted
financial information" above.
                                                             
RECONCILIATION OF NON-GAAP                                     
LIABILITIES
Unaudited                                                      
                                                             
(in thousands)      December 31,   December 31,                 
                    2013           2012
Current                                                       
Liabilities:
Accounts payable    $6,375        $17,458                     
Accrued interest    12,974         2,520                        
payable
Warrant derivative  6,894          -----                       
liability, current
Deferred revenue    1,703          -----                       
Accrued expenses
and other current   9,594          5,224                        
liabilities
Total current       $37,540       $25,202                     
liabilities
                                                             
Long-Term                                                     
Liabilities:
Warrant derivative
liability,          -----         54,854                       
long-term
Exchangeable senior 149,317        134,250                      
notes
Long-term debt      87,717         85,153                       
Long-term debt      11,100         14,577                       
redemption feature
Other long-term     658            816                          
liabilities
Total liabilities – $286,332      $314,852                    
GAAP
Warrant derivative  (6,894)       (54,854)                    
liability
Total liabilities – $279,438      $259,998                    
non GAAP
                                                             
                                                             
RECONCILIATION OF NON-GAAP NET LOSS
Unaudited
                                                             
                   Three Months Ended December   Twelve Months Ended December
                    31                            31
                   (in thousands, except         (in thousands, except
                   per share amounts)            per share amounts)
                   2013           2012           2013           2012
                                                             
Net loss for EPS^1  $(15,411)    $(10,569)    $(166,227)   $(179,184)
– GAAP
Share based
compensation        467           4,731         14,685        18,075
expense
Warrant
compensation        (2,524)       (2,790)       (3,703)       247
(income) expense
(Gain) loss on
change in fair      (26,651)      (33,342)      (47,710)      35,344
value of
derivatives
Adjusted net loss
for EPS^1 – non     (44,119)      (41,970)      (202,955)     (125,518)
GAAP
                                                             
^1 basic and                                                  
diluted
Loss per share:                                               
Basicand diluted – $(0.26)       $(0.28)       $(1.26)       $(0.87)
non GAAP
                                                             
Weighted average                                              
shares outstanding:
Basic and diluted   172,647        150,184        161,022        144,017

CONTACT: Amarin contact information:

         Joseph Bruno
         Investor Relations and Corporate Communications
         Amarin Corporation
         In U.S.: +1 (908) 719-1315
         investor.relations@amarincorp.com

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