Amarin (AMRN) is On The Verge of Multi-Month Breakout

Before the start of a new trading week, it is often a good idea to take a look at some of the notable gainers from the previous week.

One of those was the stock of Amarin Corporation (NASDAQ: AMRN), which managed to clock gains of as big as 10% last week. Investors flocked to the Amarin stock after there was a significant development with regards to the company’s stroke and heart attack prevention medicine Vascepa.

Last Tuesday, it emerges that the European Commission, which oversees regulation in the European Union, approved the product which is marketed under the name Vazkepa in the region. Although the product had been approved by the United States Food and Drug Administration back in 2012, the product has had its share of troubles. In March 2020, Amarin lost a patent infringement lawsuit against two companies and that had compounded the company’s troubles. However, the latest development has come as a shot in the arm for Amarin.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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