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A Blow to Amarin from the FDA

 (Image source: Seekingalpha)

The FDA struck a blow to Amarin Corporation plc (ADR) (NASDAQ:AMRN) by voting 9-2 to not allow its drug Vascepa, which reduces triglyceride to circulate to the broader public without additional studies. Many analysts on Wall Street expected the panel to approve the drug for broad circulation because of a study conducted by John Hopkin, which was in favor of the approval. Amarin believed that if Vascepa was used in conjunction with other statin drugs that lower cholesterol could significantly reduce the chances of heart disease. Vascepa does reduce triglyceride, but the panel is not yet convinced that the drug would reduce heart disease. The panel is waiting on 8,000 more patient trials before approving the drug, which is expected to occur in 2016. The stock is currently down a whopping 60 percent!