Amarin Corp Plc (AMRN)

[Durk 47]

Stay Long & Stay Strong!

The last few months have been disappointing for "members of the fish oil nation." However, I am cautiously optimistic the future is brighter. Here are the reasons why-

The are 7 members of the Board of Directors and only two are Amarin Mgt-
Thero & the former CEO Zakrewski. The Executive Chair is Lars Eckman, a partner with Sofinnova Ventures which owns 5 M shares now worth $33M and were worth $120M less than a year ago! Although he lives in La Jolla Ca, he and two other directors have extensive European Big Pharma contacts and all directors have extensive Big Pharma contacts and history.Formally or informally, discussions are going on. Officers own another 3.5M shares and have options on another 20M+ shares.

Bottom line, between Soffinova,other institutional investors, and the mgt, there is significant pressure to get the price up and cash out via a sale once the lawsuit is settled by year end. GIA is not a viable business option. and the long term investors like Soffinova want to cash out as do many individual investors and move on. Keep in mind, this lawsuit is only for the right to sell the generic version to patients with triglycerides above 500 mg which is only 10% of the US Market. There are some who feel if the generics win the lawsuit, they will sell to the entire market one way or the other. I agree with MGT, Amarin can legally stop that event by suing CVS, Walgreens etc., who are not inclined to break the law and the same goes for the big Health care companies. Companies do not like the threat of treble damage lawsuits.

On the negative side, mgt and directors have received and sold stock options of approximately $150M over the past three years- mostly around the $20 level.The biggest seller has been the legal VP Kennedy who has sold approximately $30M, owns very few shares and should have been fired for the disastrous legal strategy and outcome. In hindsight, the "fish oil nation" should have picked up on Kennedy's sales sooner. My sense is the buyout price will come in around $20 per share where mgt and directors were previously selling shares and where GS priced the offering.

Stay tuned!