Amarin Corp PLC (AMRN) News

That CVS Pres Prem Shah is full of shit

The PBM saga continues. Trump has to get rid of them.

https://finance.yahoo.com/news/health-insurance-companies-are-always-going-to-need-a-pbm-cvs-president-prem-shah-222357931.html

A work mate's wife just got her prescription of Hikma Generic Vascepa via AETNA. She doesn't have ultra high cholesterol. Generic version comes in a square white bottle with a blue label (90 day script). I mentioned to them that they need to have their PCP prescribe Brand Vascepa and have the PCP write DAW = Dispense As Written on the script. I also mentioned that Generics contain only 80% EPA (ethyl ester of omega-3 Fatty acid). Hikma is obviously infringing, yet our legal system allows them to continue infringing. What a travesty.

Oops. Thanks for the correction Lizzy. Got UNH mixed up with Columbia/HCA.

With this low volume I have a feeling we are on the verge of big news :)

lizzy241, I googled and all I found on cancellation between is as shown below. Nothing big on this as they (CF) then hosted the fireside chat on Sept 23.

Amarin Corp Plc (AMRN): Cantor Fitzgerald Fireside Chat ...

InvestorsHub
https://investorshub.advfn.com › ... › Amarin Corp Plc
Sep 25, 2023 — “Fellow shareholders” were indeed deprived of hearing his voice earlier when Amarin cancelled altogether the CC part of the August 3rd Q2 2023 ...

lizzy241, I agree with your statements. In looking at the document you referenced, it refers to the share premium and the capital reduction offset which was approved. Then it goes into the Cantor Fitzgerald 'Repurchase Agreement' but then states that the 'Company' (Amarin) can make off market purchases of ordidnary shares at 50 pence
The subject of time for repurchases to take place has been asked previously and in this document it states it will expire on the 5th Anniversary Date of the initial approval.
I did not see anything about the cancellation with Cantor for the BB same as you had mentioned. So I'm not sure what other agreement Amarin had with CF.

jroon, sleven, also IIRC they elected to use Morgan Stanley for BB.

Where did you see that? It has always been an agreement with Cantor.

Lizzy, I've read that resolution many times. I still don't understand how you come to the conclusion that this cancels the agreement. This actually AFFIRMS the agreement with Cantor.

Where are you reading "cancelled"? Any reference to "cancelled" is in reference to cancellation of the share premium account (a requirement to execute the buyback).

----------------------------------------------------------------------

Company no. 02353920

THE COMPANIES AC? 2006
PUBLIC COMPANY LIMITED BY SHARES
AMARIN CORPORATION PLC

At the annual general meeting ("AGM") of Amarin Corporation plc (the "Company") duly
convened and held at the Dublin offices of Arthur Cox LLP, Ten Earlsfort Terrace, Dublin 2,
D02 T380, Ireland on 18 April 2024, the following resolutions were duly passed, in the case
of resolutions 7 and 9 in the Notice of AGM, as special resolutions and, in the case of
resolution 8 in the Notice of AGM, as an ordinary resolution.

7.
SPECIAL RESOLUTION
That, subject to the confirmation of the High Court of Justice in England and Wales,
the amount standing to the credit of the share premium account of the Company as
at the date of the court hearing be cancelled (the "Reduction of Capital").

ORDINARY RESOLUTION
8. That in accordance with section 694 of the Companies Act 2006, the terms of the
share repurchase agreement dated January 9, 2024 and made between the
Company and Cantor Fitzgerald & Co (the "Repurchase Agreement"), a copy of
which was produced to the meeting and initialled by the Chairman for the purposes
for identification, be and is hereby approved and, subject to the passing of Resolution
7 and receiving the confirmation of the High Court of Justice in England and Wales
to the Reduction of Capital, the Company be and is hereby authorized to make offmarket purchases (as defined in section 693(2) of the Companies Act 2006) of its
ordinary shares of 50 pence each in the capital of the Company ("Ordinary
Shares"), at such times and at such prices and in such numbers and otherwise on
the terms and conditions set out in the Repurchase Agreement and to do all such
things as it may deem necessary to carry the same into effect. The authority
conferred by this resolution shall expire on the fifth anniversary of the date on which
this resolution is passed (except in relation to the purchase of any Ordinary Shares
effected or made before the expiry of such authority which will or may be executed
wholly or partly after such expiry).

SPECIAL RESOLUTION
9. That, with effect from the conclusion of the Annual General Meeting, the amended
and restated articles of association of the Company, produced to the meeting and
signed by the Chairman for the purposes of identification, be adopted as the articles
705421251.1
of association of the Company in substitution for, and to the exclusion of, the existing
articles of association of the Company.
705421251.1
-DocuSigned by:
Jonathan Provoost
6E99DZ6DC49C497.

RMB when was Rick Scott with UNH?

Nukem, they are the coolest cats if you like big hairy cats. Long fluffy tails. Beautiful animals.

jroon, sleven, also IIRC they elected to use Morgan Stanley for BB.

jroon, Sleven.... since all docs filed are in pdf form they can't be copied and pasted. In the link below go to 6/4/2024 and view the doc it mentions a canceled agreement with Cantor Fitz.
First question why was the cancellation dated 1/4/24 this is dated before the AGM which is when they voted to do the $50mill BB so it's not about the BB, it must have something to do with another agreement???

Second, which agreement were they referencing?

https://find-and-update.company-information.service.gov.uk/company/02353920/filing-history

The culture there at UNH goes back to when Rick Scott was there and probably even before.

North, Where do we start? This UNH debacle should not surprise anyone. Everyone has a story about insurance company denials. But the reason for denial is another issue. You all may recall my now deceased husband and I took down an HMO many yrs ago. As in all industries, accounting practices vary depending on many variables. UNH is just the tip of the iceberg but in my case researching this particular HMO they were screwing the doctors, through creative accounting to meet their MLR requirements.
That's another reason why I'm not feeling that great about my findings yesterday with Amarin's filings with the UK House Companies. There's too much room to shelter unknowns due to Amrn being a UK registered company. It smells.

Thanks Lizzy, I mistook Main Coon's for Manx....apologies.
Non-shedding cat huh? Food for thought? 👍️

Nuke, sorry to interject my .02cents but Main Coons are beautiful long haired cats full length tail and they don't shed. Awesome dispositions it's one of my fav breeds besides Himalayan's which do shed. ♥️

That's Cool! Maine Coon's don't have a tail do they?

All, sorry for the triplicate post but I had a large Maine Coon cat came running across my keyboard and I could not get back out without hitting Submit. :>)

lizzy241, I didn't understand the 'allotment of shares' so I pulled this up for anyone who is unclear.

The Return of Allotment of Shares is the name of Companies House form SH01. This form must be completed if you decide to issue (allot) new shares at any point after incorporation. You must deliver the Return of Allotment of Shares to Companies House within one month of an allotment.

Our All Inclusive Package - the perfect way to form a company
There are many reasons why people choose to issue more shares after company formation, such as:

Raising additional capital from investors
Repaying loans
Funding a new project
Awarding bonus shares to employees in place of cash bonuses

Lizzy241, CaptBeer, the DOJ filed a civil complaint against UnitedHealth yesterday or today, per WSJ and CNBC-TV(this morning). The suit involves billing practices of UNH under Medicare Advantage, and may challenge UNH to justify its failures to cover necessary/desirable medications and hospital care of patients. CVS, UNH, Centene, etc shares are plunging this morning in market. 

Remember that suit by Express Scripts and CVS/Caremark against FTC that was filed late last year in St. Louis, W.D. Missouri. 

In my opinion, we may now have an ideal opportunity to call upon DOJ and FTC to investigate the palpable fraud that Hikma and DRL colluded to perpetrate in the Nevada District Court. Our Amarin shareholder Petition for Writ of Certiorari filed in the Supreme Court outlined the applicable facts and law justifying an investigation. No Court or Federal agency has acted on those facts and law. 

Lizzy, which filing are you referring to?

Lizzy, the Share Premium Account is Additional Paid-In Capital.

Per UK law, companies choosing to do a share buyback must use funds from profits. If they are NOT profitable (as with Amarin), if they have excess paid-in capital (share premium account), they may cancel that account and allocate those "funds" to the share buyback. There are some other hurdles they have to jump, like having excess cash on hand, and go through a review from UK regulators.

I'm not really understanding what you're saying.

See https://thehrtclub.com   Might be significant for Amarin. Note HRT location. It's CEO was a former global marketing director for JNJ and MRK. Worth reading, and a copy/paste of content/text here.

does anyone other than lizzy241 or DMC8 have anything to say about the situation?

https://docs.google.com/document/u/0/d/14OjIbqIjXfQs7TkOQVphnlR2-ovDJZU14l95wqqTHoI/mobilebasic

Source:
https://www.ahajournals.org/doi/full/10.1161/JAHA.124.038656

https://stocktwits.com/SanDiegoLiving/message/605079713

https://www.thestar.com.my/aseanplus/aseanplus-news/2025/02/20/singapore-biotech-tycoon-huang-zhenhua-has-assets-frozen-over-us830mil-suit-by-pharma-giant

sleven, please note the difference in timeline.

jroon, totally different function of share premium buyback. see definition.

A share premium account is a part of a company's equity on the balance sheet. It represents the amount received by a company from shareholders for shares issued at a price higher than their nominal (par) value2. Essentially, it's the extra money paid by investors over the basic value of the shares.

For example, if a company issues shares with a par value of $10 each but sells them for $15, the extra $5 per share goes into the share premium account. This account can be used for various purposes, such as issuing bonus shares, writing off certain expenses, or funding expansion3.

jroon, no that's an entirely document. I did find that as well.

sleven, see the below link, I don't think I'm misinterpreting. Maybe Not

https://find-and-update.company-information.service.gov.uk/company/02353920/filing-history

I don't totally understand the explanation for this filing. I never knew they had this agreement, to begin with

Sleven, the agreement with Cantor was not cancelled. I think she is referring to the Cancellation of the Share Premium Account, which is what they needed to do in order to qualify for a Share Buyback, per UK securities law (because they are not profitable).

EDIT: this is essentially a bookkeeping entry in the Owner's Equity section of the Balance Sheet. The Share Premium Account is basically Additional Paid-In Capital.

Lizzy, I don't see a cancellation of the agreement?
Sleven,

Lizzy, yeah I track these filings and check almost daily to see what's in there. Reporting requirements are much stricter with UK, I think.

https://stocktwits.com/SanDiegoLiving/message/605079713

jroon, especially the AGM minutes. They had an off market purchase agreement with Cantor Fitz cancelled as well. There have been UK sales that haven't been reported. It's crazy.

jroon, there's a whole different world for AMRN in the UK filings!!
So much more detail.

https://find-and-update.company-information.service.gov.uk/company/02353920/filing-history

Lizzy, if you look at their 10Q from Q3, they had 422M shares authorized/411M outstanding. So they've increased authorized it by 4M. We will see that in their Q1 10Q.

The difference is that they have to file with UK Companies House within a week I think of any share issuance. With the SEC, I think they only need to report with their 10Q/K.

jroon, I found link, I suspect the additional shares will be for the EU hires and other upper management.

https://find-and-update.company-information.service.gov.uk/company/02353920/filing-history

Jroon,
They are actually up to 426,5724K shares authorized. Their filing doesn't indicate how many shares are issued, but presumably, they added 4M to the 411M out already.
So technically if they authorized 4mill shs, the shares that were sold on 1/31/25 would be considered outstanding and the balance of the RSU's would remain restricted until they filed to sell additional shares then the sales are considered outstanding.

jroon, I'm curious about the difference between a UK filing and US filing. How can the company authorize shares on one set of books without showing equal numbers for US filing? Maybe they will be included in the 10K? Actually, they would have to report increase. I'm not liking the lag time between reporting filings.
Please forward the link. Thanks

If they run out of authorized they can always request additional authorized to be issued.

Lizzy, I think the new shares are newly authorized shares. Because every time they allot new shares, it increase the number of shares authorized. Thus, why they are up to 426M shares, from 422M shares at their last filing a week or so ago, but still show 411M shares as outstanding.

Lizzy, UK Companies House. I track those filings.

And I actually was mistaken, it was not 2M shares, it was 4M shares. The 2M was the GBP valuation (GBP 0.50 par).

They are actually up to 426,5724K shares authorized. Their filing doesn't indicate how many shares are issued, but presumably, they added 4M to the 411M out already.

I realize what the shares are for - RSU issuance. I just found it interesting that they issued that many shares at once. Far more than they normally do at one time.

jroon, where did you find the info re the 2mill additional shs issued? There's no filing found.

jroon, I missed a step in the last post. The shares come from authorized then move to issued when the shareholder files to sell and freed up to sell then after sale they are added to the outstanding. In between the in-house attorney will file the proper documents to the SEC to notify them about the future sale.
If they run out of authorized they can always request additional authorized to be issued.
Actually, the last step is usually done when a company does a primary offering or a secondary therefore requiring a large increase authorized shares.

jroon, coming in the middle of the conversation, so excuse the interruption. The 2 mill shares issued to management in 1/25 come from the authorized shares but not issued when they awared shares they take from authorized and add to shares outstanding. Hope that helps.

The document is printed, not read yet. Like you, I will be interested to see Amarin's response.

Yes, that's what I just said.

Hello my $AMRN Friends! The December 2024 English Prescribing Data (EPA) for England is now available at:
https://opendata.nhsbsa.net/dataset/english-prescribing-data-epd

As usual I have filtered and downloaded this data for VAZKEPA® and a few selected non-statin LLT’s. My Summary Report for December and Full Year 2024 in pdf format can be found here:
https://drive.google.com/file/d/1nXaV3pmKRO3e7p8ShMm1FROUli-oSdZ-/view?usp=sharing

Individual slides (4 total) and the report and the original PowerPoint presentation can be found here:
https://drive.google.com/drive/folders/1J9FpKEZRPkcYFRRMy3ytmdNwAg52YTxH?usp=sharing

Slide # 1: Line graph of monthly Rx for single dose (capsules/pills) prescribed in England from 2021-2024.
Slide # 2: Table/Graph 2024 monthly comparative of VAZKEPA® vs. OMACOR (Omega-3 mixed EPA/DHA).
Slide # 3: 2024 VAZKEPA® Actual monthly Reimbursements
Slide # 4: 2024 distribution and sum of VAZKEPA® caps across English Geographic Regions.

I’m providing no commentary, just the data. ENJOY!