Amarin Falls After U.S. Approval Limits Debut Drug’s Use
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U.S. approval for Amarin Corp.’s first product, a drug to combat high levels of blood fat that can lead to stroke and heart attack, included limits on its use that may have disappointed investors.
Amarin’s American depositary receipts fell in New York trading after increasing yesterday, continuing a trend in the last few months of investors selling on the news of drug approvals, said Jon Lecroy, an MKM Partners analyst in Stamford, Connecticut. The drug’s label may not have been as broad as some investors were expecting, he said.