Amarin -5% after FDA delays ANCHOR SPA appeal, MKM downgrades

|About: Amarin Corporation PLC (AMRN)|By:, SA News Editor

Amarin (AMRN -5%) is downgraded to Neutral from Buy at MKM Partners after it announced the FDA had delayed making a determination on the company's request to reinstate the ANCHOR clinical trial Special Protocol Assessment agreement.

MKM continues to expect AMRN to have a difficult time significantly growing Vascepa prescriptions in the face of a smaller sales force and new ACC/AHA lipid guidelines that essentially only recommend statins for lipid management, and the firm does not expect AMRN to secure a near-term partnership for the drug.