Replies to post #296104 on Amarin Corp Plc (AMRN)

[Will Lar]

Jasbg - here is my Amarin scorecard. Not negativity but facts. It's inconvenience truth at most.

1. R&D - none
2. Pipeline - none
3. Product - 1
4. Manufacturing - none
5. API supply - bought
6. Clinical (trials) - yes
7. Approval - FDA & likely EMA and others
8. IP - yes
9. Sales & Marketing - yes in US (but new)
10. Management - yes

IMO the company has some very valuable pieces of assets, but doesn't have the profile for GIA. 1 & 2 are present for all successful GIA companies. 5 is probably the riskiest part of the whole business - the supply is openly available for anyone to buy. For 6, you need $$$ to do more trials and add more indications. For 9, in the competitive CVD market, one would need the scale ($$, experience and existing infrastructure) to compete and exceed. If it's a nascent market, it doesn't matter as much.

I have always thought if Amarin is serious about GIA, it would have built 1-5 and hence a stronger 8 which will give the company more strength to stand on its own and thrive. But it didn't. It's just betting on one single product. It's a very risky game because in the knee-jerking situation like this, it can be devastating.

I've never believed Amarin is serious about GIA until JT announced GIA in EU this year. GIA is an absolutely wrong strategy. It's devastating and outrageous for me to see how things unfolded this year, and shareholders have lost SO MUCH money, whereas we could have been sold for at least $10-15B a year ago. Also if it's in a BP's hand, EU & ROW wouldn't be worth just $4.

Amarin needs to sell itself! Its $600M cash is not enough to support trials and S&M in EU but it will buy them some time to find a buyer and negotiate a reasonable deal. I am not suggesting a fire sale. But I do hope more shareholders and investors will stop cheerleading the company on the GIA path, instead urge the company to engage in finding a buyer soon. Remember Amarin only owns Vascepa (a branded EPA). It doesn't own EPA. It's a HUGE difference! GIA doesn't do justice to both shareholders and patients globally.