Elite Trade has continually proven to be the number one stop for stock market news with its recent update regarding the Amarin (AMRN) Shares
November 25, 2020 —
Amarin seems to be disrupting the Chinese market after the biotech company revealed some good news from a Phase 3 trial of their Vascepa drug. The pharmaceutical and biotech company specializes in the development of cardiovascular disease treatment. Headquartered in Ireland, Amarin focuses on the U.S. market, treating patients in the country, a fact that makes the recent announcement even more exciting.
AMRN stock is a familiar stock for investors, with its popular drug, Vascepa generating buzz on Wall Street. Vascepa is a therapy used for the treatment of heart attack and stroke. Over the years, studies have revealed that using the drug alongside other medications such as cholesterol-lowering statins can lower triglyceride levels.
The announcement becomes important to the US capital market as Amarin is approved by the U.S. Food and Drug Administration, and the company has continued to expand, rivaling the likes of AstraZeneca and Acasti Pharma. The recent announcement has put it a step ahead of its competitors.
The news revealed that Amarin and Edding are running a Phase 3 trial of Vascepa in China. Both companies have also shared positive and statistically significant results from the trial. Amarin and Edding are reportedly working together to receive approvals to start marketing the drug in China.
The exciting news of the trial put Amarin shares on investors' radar, especially the ones interested in biotech companies and their advancements in clinical trials and approaching drug authorization. The company also has an advantage in the Chinese market as cardiovascular disease remains the leading cause of death in China. Consequently, the company looks set to enjoy a relatively large market, along with Edding, one of the top pharmaceutical companies in China.
Biotech companies have not had the easiest of times in 2020, with stay-at-home orders and closure of non-essential services bringing clinical trials to a standstill. The COVID-19 pandemic has also stolen the show, with companies turning their attention to developing vaccines and treatments for the virus. However, things look to be positive, and experts believe that biotech stocks will dominate the market in the coming years.
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