Drugmaker Amarin rises as prelim Q4 revenue beats estimates

Amarin

10/01/2024 12:51

** Drugmaker Amarin's  AMRN.O  shares rise 17.4% to $1.14
premarket
    ** Company reports prelim Q4 revenue between $72 mln and $74
mln, vs est $62.1 mln - LSEG
    ** Amarin's European business grew 65% in Q4 vs Q3,
benefiting from launch of its heart disease drug Vazkepa in 3
additional markets, including Spain and the Netherlands, during
the year
     ** Company's U.S. business retained its market share
despite generic competition
    ** Amarin on track to deliver $40 mln of annual savings
based on workforce reduction announced in July 2023, company
says
    ** AMRN plans to start share buy-back program of up to $50
mln
    ** Company's shares fell 28.1% in 2023

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com))