‘Pharma doesn’t like fish oil’: Wall Street funds sold Amarin after big win with heart drug

first_img Senior Writer, Biotech Adam is STAT’s national biotech columnist, reporting on the intersection of biotech and Wall Street. He’s also a co-host of “The Readout LOUD” podcast. GET STARTED About the Author Reprints Adobe Tags biotechnologySTAT+ What is it? @adamfeuerstein Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. What’s included?center_img Wall Street fund managers lightened their stock positions in Amarin (AMRN) during the fourth quarter — an unexpected downshift in sentiment that suggests some doubt about the company’s ability to transform its fish-oil derived heart drug into a commercial blockbuster.The last three months of 2019 were good for Amarin, topped in December with a Food and Drug Administration decision to expand the approval of Vascepa. Amarin is now allowed to say the drug prevents heart attacks, strokes, and related health problems in people who are at high cardiovascular risk. The company believes Vascepa could now be prescribed to millions of Americans, leading to billions of dollars in new revenue. Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. [email protected] Log In | Learn More By Adam Feuerstein Feb. 18, 2020 Reprints ‘Pharma doesn’t like fish oil’: Wall Street funds sold Amarin after big win with heart drug Adam’s Take Adam Feuersteinlast_img

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