FDA Approves Generic Version of Amarin's Blockbuster Fish Oil Capsules

Millions of Americans who would like to lower their risk of a heart attack could have a new, low-cost option to help them. On Friday, the FDA approved 1 gram Icosapent Ethyl Capsules from Hikma Pharmaceuticals (OTC: HKMPY). Hikma's capsules are the generic equivalent of Vascepa from Amarin (NASDAQ: AMRN), a branded fish oil product expected to drive billions in annual sales.

For more than a decade, Amarin has been running huge deficits to develop Vascepa, and now, Hikma's version can legally claim to provide the same benefits. In March, shares of Amarin tanked after a judge on the U.S. District Court of Nevada ruled in favor of Hikma and another generic drugmaker, Dr. Reddy's Laboratories (NYSE: RDY).

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