Amarin Corp Plc (AMRN)

[Will Lar]

All - thank you for chiming in! Your points are well taken. This is a a-bottle-half-full situation, IMO. Many of you are looking at the full part and I am looking at the empty part. Don't think I am alone. Just look at the sp.

Obviously I agree with everyone on the sales/market potential of Vascepa. If not, I wouldn't be a shareholder for so long.

However since I am a hardcore AMRN BO advocate, I want to exam the asset part of the company. What does an acquirer get for its money?

For a typical biopharma BO target, the buyer gets R&D, patents, manufacturing, products and their revenue, salesforce, channels, partnerships, management team, etc.

For AMRN, the buyer gets patents, product (singular) and its revenue, salesforce, channels, partnerships, and management team, etc.

See what's missing here? R&D, manufacturing. Basically, the buyer are buying a bunch of paperwork - patents, supplier contracts, and labeling, which are the core assets of this company. The others are not as important if a BP is already selling statin. Don't take me wrong - these are valuable assets. But are they worth $15B or more??

AMRN is unique in the sense that AMRN does not own or make EPA, the molecule, instead it only owns the labeling and the commercial rights of selling it as a Rx drug for the indications in the label hopefully globally soon.

This is similar to co-op vs. condo. Do you want to pay a condo price for a co-op?