Amarin Corp Plc (AMRN)

[Bouf]

W—it will be months maybe year or two before the litigation comes to a conclusion absent a loss on the motion to dismiss (really bad but unlikely) or a settlement (should be good but also seems unlikely). We are at least a year away from summary judgment motions, but those may not even be filed because of factual disputes about Hikmas conduct. A trial is at least a year from now.

Any buyer will simply step into the shoes of AMRN and pursue the case to protect as much of the US market as possible. A big variable in the BO price will be how much of the US market can be protected. I think the addition of HealthNet now was designed to bolster AMRN’s legal case but also its case to buyers that the US market is not lost.

B