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Amarin Corporation plc Message Board

  • kaylawa kaylawa Oct 23, 2012 6:22 PM Flag

    Daily Mail: Amarin May Be a Cure For AstraZeneca

    10/23/12
    AstraZeneca's new boss Pascal Soriot didn’t mess about when on his first day in the job he announced the suspension of the drugs group’s £2.8bn share buy-back programme.
    Shareholders were obviously miffed, but analysts took it as a definite sign that he wanted to save the cash for earnings enhancing acquisitions. Soriot recently spent up to £169m on the rights to an experimental kidney drug, but rumours now suggest he has something much bigger up his sleeve.
    AZ’s shares shed 38p to 2900p ahead of tomorrow’s third-quarter trading statement.
    The fall was accompanied by speculation Soriot is planning to launch a cash bid for US biopharmaceutical group Amarin, whose shares moved against the trend on Wall Street yesterday with an early gain to $11.61.

    AstraZeneca, along with other larger pharmaceutical companies such as Merck, Pfizer, Abbott and Eli Lilly, would apparently love to get their hands on Amarin for Vascepa, a prescription medicine which helps with the treatment for cardiovascular disease. It is the group’s first FDA approval product.
    US analysts are of the opinion that Amarin’s days of independence are numbered.
    They reckon that Amarin now stands at the crossroads and appears to be waiting for a large pharmaceutical company, with a substantial cardiovascular or diabetes sales force, to come and swallow it whole.

    William Tanner, analyst at Lazard Capital Markets, currently has a target price of $26 on Amarin as has Canaccord Genuity’s Ritu Baral. What does that tell you?

    dailymail. co
    .uk
    /money/markets/article-2221989/MARKET-REPORT-Amarin-cure-Astra

    Sentiment: Strong Buy

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