Amarin Corporation plc (NASDAQ:AMRN) amazing USPTO with Vascepa
Amarin Corporation plc (NASDAQ:AMRN) has announced that it has 30 different patents that have either been allowed or issued by the USPTO in connection with Vascepa, its flagship product, Vascepa are icosapent ethyl capsules. Very recently, the company had received Notices of Allowance for United States Patent applications numbered 13/768,869, 13/777,398 and 13/768,897. The Vascepa patent applications now have the broadest coverage-scope that has been permitted to date.
The impressive 30
The company’s Chairman and Chief Executive Officer, Joseph Zakrzewski, said that 30 different patents that have been allowed and issued in addition to the 30 applications that are in a pending state. With this addition, the company now has one of the most expansive and growing patent portfolio that covers any product in this industry. He added that the company is very pleased with the fact that the USPTO continues to recognize all the unique characteristics that Vascepa has.
The fact that the body continues to issue different patents that cover Vascepa is indicative of the fact that the product as achieved a great deal of success in protecting its commercial potential with the patent protection cover that stretches right upto 2030. In addition to this, AMRN’s Vascepa also has the protection of exiting manufacturing-barriers to entry and trade secrets. Apart from this, it has an anticipated 3 or 5 year regulatory exclusivity in the U.S.
The company is also making a significant amount of progress with its various patent applications related to this product is different jurisdictions outside the country. This includes the 2013 May patent-grant from the European Patent Office. This covers Vascepa use based on results from a trial named MARINE.
Monday’s trading session
Amarin Corporation plc (NASDAQ:AMRN) stock rose by 0.70% in Monday’s trading. The opening price of the shares was $7.30 which rose to an intraday high of $7.33 and closed at $7.24. In excess of 3.93M shares were traded in the Monday session while the average volume of AMRN shares traded over a period of 30 days was 4.11 million. The company has a market cap of 1.25 billion.