Amarin Corp Plc (AMRN)

[IgnoranceIsBliss]

Let’s do some basic Aristotelian logic.

Small companies with a one-drug pipeline and a finite patent runway have no unfair advantage over anyone to monetize the drug.

They have the projected cash flow off that runway. That’s it.

There is NO way a small company can monetize that runway anywhere near as efficiently as a Big Pharma company — they already have the apparatus to sell the drug and the expertise to maximize footprint as fast as possible. Margins simply go way up, and there are no mitigating variables.

This was probably the simplest analysis Sarissa ever performed. This company is worth $x on a DCF basis in its current, maximally inefficient configuration, and $2x simply having its single drug acquired.

There’s nothing AMRN can do on its own that a big company can’t do way better. That’s why Denner bought into this turd. That’s the obvious fact he saw.