Perhaps. The fatty acids in krill oil are bound to phospholipids (primarily phosphatidycholine) instead of triglycerides or methyl esters in fish oil.
First, it's likely more potent:
Second, there are some preclinical studies that show differences. Here's a rat study that purports to show a difference between fish oil and krill oil:
(There are a couple more rat studies along the same lines).
Finally, there is the too-good-to-be-true study done by Neptune that showed dramatic increases in HDL:
Never been reproduced (to my knowledge) and so skepticism is appropriate.
I have no clue - this nutritional stuff is always frustratingly murky. The fact that Lovaza is safe tends me in the direction that there are not likely to be obvious side effects from too much omega-3, but who knows what subtle effects there may be.
FWIW, I recently had a talk with an internist friend who has a job summarizing evidence-based medicine topics for a well-known service, and he says he personally isn't convinced by the various studies showing a cardiac benefit for fish oil. He felt there just wasn't the consistency across different studies that you would expect to see if the effect was for real.
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