Amarin Responds to Inaccurate and Misleading Statement by Sarissa
Board Refreshment Process Has Been Comprehensive, Independent and Transparent; Sarissas Candidates Are Not Qualified Versus
Recently Appointed Board Members
Amarin Recognizes Shareholder Frustration with U.S. IP Loss And Has Taken Decisive
Action with a New Strategy, New Team and New Board
-- Sarissas Intervention Will Lead to
Distraction, Disruption and Destruction of Future Value
DUBLIN, Ireland and BRIDGEWATER, N.J., Jan. 19, 2023 Amarin Corporation plc
(NASDAQ:AMRN) (Amarin or the Company) today issued the following statement in response to Sarissa Capital Management LP (Sarissa):
Sarissa is Not the Answer: They Have No Plan, No New Ideas and Their Board Candidates Are Not Qualified
Sarissa is tapping into shareholder frustration but not providing any answers or plans. How specifically does Sarissa plan to increase
shareholder value?
Contrary to Sarissas misrepresentation of the facts, the Amarin Board of Directors refreshment process has
been comprehensive, independent and transparent. The Board engaged a leading independent search firm in October 2021 which identified each of the six new independent directors who have joined the Board in the last year. Throughout this process, the
Board considered upwards of 30 candidates against clear selection criteria with critical skillsets needed to oversee Amarins transformation plan including: international commercial experience, global pharma partnerships and M&A, pricing
and reimbursement, finance and healthcare investment, clinical development and corporate governance.
Amarin takes its Board refreshment
process seriously and will not circumvent any step at the demand of one shareholder. The Board interviewed three of Sarissas five proposed candidates, all of whom are Sarissa employees, alongside independent candidates the Board had
identified. In addition, Sarissa demanded that at least three of their candidates be appointed in a matter of days after the names were finally shared with the Company. Of note, two of Sarissas original five proposed candidates were junior
Sarissa research analysts with less than five years of work experience.
Throughout our engagement and during the interviews with their
candidates, Sarissa never proposed a single idea to help advance the business. With no plan and no new ideas, Sarissa is not the answer. Sarissa is now putting forward seven underqualified candidates, three of whom are Sarissa employees, who
collectively lack critical understanding of operating a commercial stage company and have minimal experience with European product launch, pricing and reimbursement and commercial expertise.