Amarin Corporation plc (ADR) (NASDAQ:AMRN), a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health, announced today the promotion of Joseph T. Kennedy to Executive Vice President, General Counsel and Strategic Initiatives.
With more than 20 years of industry experience, Mr. Kennedy has contributed significantly to progress at Amarin since joining the company in December 2011 as Senior Vice President, General Counsel. Kennedy’s recent accomplishments include his role in leading Amarin to two significant federal court rulings: The First Amendment-based federal court declaration allowing Amarin’spromotion of truthful and non-misleading off-label information about Vascepa® (icosapent ethyl) capsules and the first successful judicial challenge to a denial of five-year, NCE exclusivity since the Hatch-Waxman Act was passed in 1984. Kennedy is also credited with leading Amarin’s strategy in the successful prosecution of over 40 patents designed to protect the Vascepa franchise into 2030 and in the recent dismissal of a securities class action suit against Amarin. He also played an important role supporting Amarin business development in the establishment of Amarin’s U.S. Vascepa co-promotion agreement with Kowa Pharmaceutical America, Inc. and collaboration agreement with Eddingpharm in greater China.
“On behalf of Amarin and its Board of Directors, it is with great pleasure that I announce Joe’s promotion and recognize his important contributions to the strength and development of Amarin,” stated John F. Thero, President and Chief Executive Officer of Amarin. “Joe’s skillful dedication and leadership have contributed meaningfully to our success and his efforts have madeAmarin a leader on issues important to the life science industry and in support of our mission to improve the lives of patients.”
Mr. Kennedy joined Amarin with an impressive record of achievement in the life science industry. In 2010, he was recognized by the President of Ireland as one of the inaugural, “Irish Life Science 50,” which honored Irish-Americans for outstanding contributions to the industry. He served as Vice President, General Counsel at Transcept Pharmaceuticals, Inc., where he played a lead role negotiating the company’s strategic collaboration with Purdue Pharma, secured key patents, and helped design the strategy to obtain FDA approval for the company’s lead product following two Complete Response Letters from FDA. Mr. Kennedy also served as the chief legal officer of Eyetech Pharmaceuticals, Inc. through sale of the company to OSI Pharmaceuticals Inc. Previously, Mr. Kennedy served as Vice President and U.S. Counsel, Corporate Business Development, with Élan Corporation, plc where he helped acquire technologies, manage multiple collaborations and participated in the company’s sale of $2.0 billion in assets. Mr. Kennedy previously practiced law with Orrick, Herrington & Sutcliffe LLP where he represented investment banks and developing companies in initial public offerings and mergers and acquisitions. (Original Source)
Shares of Amarin Corporation closed yesterday at $2.35. AMRN has a 1-year high of $3.33 and a 1-year low of $0.78. The stock’s 50-day moving average is $2.34 and its 200-day moving average is $2.07.
On the ratings front, Oppenheimer analyst Akiva Felt maintained a Hold rating on AMRN, in a report issued on August 9. According to TipRanks.com, Felt has a total average return of 35.1%, a 63.7% success rate, and is ranked #22 out of 3729 analysts.
Amarin Corp PLC is a biopharmaceutical company with expertise in lipid science. The Company is engaged in commercialization and development of therapeutics to improve cardiovascular health.