Amarin Corporation plc AMRN shares have been on a strong upward trend since late Wednesday, with the buying momentum continuing into Thursday's session.
What Happened
Amarin's stock was reacting to a release from the American Diabetes Association, or ADA, that includes Amarin's Vascepa in its updated Standards of Care list for the treatment of diabetic patients with atherosclerotic cardiovascular disease or other risk factors who have elevated triglycerides and are currently on statin therapy with controlled bad cholesterol.
Vascepa capsules, chemically icosapent ethyl, were approved by the FDA as an adjunct to diet to reduce triglyceride levels in adult patients in July 2012. It is a proprietary single-molecule medicine derived from fish.
It was commercially made available in the U.S. in 2013.
The asset was subsequently evaluated in a late-stage study called REDUCE-IT for statin-treated adults with elevated cardiovascular risk. A recent presentation of data from the trial showed a statistically significant 30-percent risk reduction in cardiovascular events compared to placebo.
The ADA recommends Vascepa for patients with diabetes and atherosclerotic cardiovascular disease or other cardiac risk factors on a statin with controlled low-density cholesterol but with elevated triglycerides.
Why It's Important
The inclusion in the ADA list will make it easier for Vascepa to be included in formularies. A formulary is a list of drug products covered by payers.
What's Next
Amarin said in its fourth-quarter earnings released in late February that it expects to file a sNDA for Vascepa in the U.S. by the end of the first quarter of 2019.
After rallying 3.14 percent Wednesday, Amarin shares were rising 6.08 percent to $19.18 at the time of publication Thursday.
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