Sarissa: Amarin Stock ''Meaningfully Undervalued', Has Increased Its Ownership

 Sarissa Capital Management LP (“Sarissa”) today issued the following statement regarding Amarin Corporation plc (NASDAQ: AMRN):

Sarissa believes Amarin’s stock is significantly undervalued. We continue to believe in both the tremendous value of Vascepa/Vazkepa to cardiovascular patients worldwide and the market opportunity. We are very upset that the stock has remained low. We expect that over time that value will be reflected in the stock price. We hope that recent progress detailed below will cause the stock to begin to reflect the value we think it has.

We remain long-term shareholders and have been purchasing shares at these depressed prices, as will be detailed in tomorrow’s 13D filing. We have never sold any shares of Amarin and have only increased our position since we made the investment.

Since reconstituting the board nine months ago, Amarin has made significant progress to strengthen its business operations and corporate governance and to remake the company for shareholders:

• Reorganizing the leadership team under new CEO Patrick Holt with his international leadership and turnaround operating experience
• Streamlining the U.S. business to maximize cash flows
• Reworking Europe’s commercial infrastructure and pricing and reimbursement activities to be more effective and cost-efficient in key markets
• Achieving national reimbursement approvals and launches of Vazkepa in Europe, including in Spain, Netherlands, and Scotland, as well as in China through EddingPharm
• Securing multiple international partnership deals, including in Australia/New Zealand, South Korea and Southeast Asia, to grow Vazkepa globally

In Sarissa’s experience, turning around companies takes time. We are pleased with the progress that Amarin has made to date and expect the value to be reflected in the stock price over time. We share all shareholders’ frustration in the low stock price.

https://www.businesswire.com/news/home/20231204232430/en/Sarissa-Capital-Believes-Amarin-Stock-Is-Meaningfully-Undervalued-and-Has-Increased-Its-Ownership