Amarin Corp Plc (AMRN)

[SonamKapoor]

No, that's incorrect. Crude fishoil to be refined will come from wild fisheries stocks. Most crude fish oil is rendered from Peruvian anchovy or sardine stocks because they naturally have a higher content of these fatty acids (about an 18:12 ratio of EPA to DHA) so its cheaper to refine and purify to the ethyl ester minimum content requirements of a given customer. When rendered, farmed salmon trimmings don't yield the same EPA/DHA content (same for most other species of fish)- or here what AMRN needs - the EPA.

Eventually, GMO canola plants (rapeseed) that are in trial right now in Montana by Cargill will likely be able to supply, but that's assuming Americans overcome their revulsion to transgenic crops. Jonathan Napier in the UK has also been conducting trials for years, but its unlikely Europe will in our lifetime allow this into their food supply based on negative perceptions (think Prince Charles campaigns). Pharma may escape the negative perception, but Greenpeace & Oceana campaigns create a lot of negative social equity.

Jonathan Napier-
https://www.smithsonianmag.com/science-nature/fish-oil-could-one-day-come-plants-180952239/

For now you are looking at Peruvian raw material supplier companies like Tasa, Hayduk, Exalmar

http://tasa.com.pe/our-company/business-units/fishmeal-fish-oil.html
http://www.hayduk.com.pe/en/
http://www.exalmar.com.pe/en/investors/

or in Chile - https://www.undercurrentnews.com/2018/03/30/omega-3-market-still-offers-room-for-big-expansion-major-fish-oil-exporter-says/

Also, see http://www.iffo.net/

Or http://www.goedomega3.com/

Then you need manufacturing facilities that are approved for API manufacturing. That's a higher standard than for supplements manufacturing. Last I knew a few years or so ago they had 3 approved plants. Not sure the latest on which manufacturers in the US they are going with since they have been limping along focused on their ITC case and then appeal.

https://investor.amarincorp.com/static-files/38173893-794e-4ccf-9362-13a24128add5