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Amarin Corporation plc (AMRN) Could Be On The Verge Of A Correction Soon?

Vascepa, Amarin Corporation plc (AMRN) flagship drug, has been approved for European commercialization. Vascepa will be marketed in the European Union as Vazkepa and given to patients with high stroke and heart attack risk to reduce their risks. This medicine is prescribed to people with elevated triglycerides who take statins.

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Amarin’s stock did not rise strongly following the approval news since this event was expected and was predicted in February 2021.

Nevertheless, Vazkepa is the only therapy of its kind currently approved in Europe. The European Union’s leading cause of death is cardiovascular disease, and a company like Amarin can leverage this opportunity to significantly expand Vascepa’s overseas sales.

One should note that Amarin Corporation plc (AMRN) intends to launch Vascepa in Asia, mainly in China and Hong Kong, in 2021.

Amarin Corporation continues to struggle with competition from generics. The Amarin Corporation plc lost the case in court last year and failed to stop competing drugs with Vascepa properties from entering the market. As a result, AMRN shares dropped significantly. 

Consequently, Amarin Corporation has so far had an influential position in the commercialization of Vascepa only in Europe. As Amarin claims that its Vascepa has a lower price than generics, it intends to compete in other markets’ quality and price.

Moving now on to this publicly-traded company’s trading performance, we will explore the past, current, and future Amarin Corporation (AMRN) trends. Within the last week, AMRN stock gained 7.44%, while over the past one-month period, the stock gained 2.99%. AMRN stock rose 29.37% throughout the last quarter. The stock has been increasing by 53.71% within the last six months and 55.25% in the past year. AMRN Stock’s year-to-date (YTD) price performance is now positive at 26.99%.

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