Statement re Appointment
April 03 2007 - 10:00AM
UK Regulatory
RNS Number:3358U
Amarin Corporation Plc
03 April 2007
AMARIN APPOINTS PAUL F. DUFFY TO NEW POSITION OF PRESIDENT - U.S. COMMERCIAL
OPERATIONS
Former Novartis National Sales Director-Neuroscience to Spearhead U.S. Sales &
Marketing Efforts
LONDON, United Kingdom, April 3, 2007, Amarin Corporation plc (NASDAQ: AMRN)
("Amarin" or "Company") today announced the appointment of Paul F. Duffy as
President-U.S. Commercial Operations. This new business unit will be located in
New Jersey.
Mr. Duffy brings more than 30 years of neuroscience sales and marketing
experience with Novartis Pharmaceuticals (formerly Sandoz Pharmaceuticals),
having held sales and marketing positions of increasing responsibility from 1972
to 2003, leading to his most recent position as U.S. National Sales
Director-Neuroscience which he held from 1999 to 2003. Mr. Duffy, currently
Chief Executive Officer of Validus Pharmaceuticals, left Novartis to co-found
Alamo Pharmaceuticals. At Alamo, he created a fully integrated commercial
pharmaceutical company to market Fazaclo, a reformulation of Novartis'
anti-psychotic drug, Clozaril. Mr. Duffy left Alamo in July 2006, after
completing its sale to Avanir Pharmaceuticals.
Mr. Rick Stewart, Amarin's Chief Executive Officer, commented, "We are excited
to have Paul bring his considerable talents to the Amarin team. He brings a
wealth of experience in every facet of building and leading successful CNS
businesses that will be invaluable in establishing our U.S. commercial
infrastructure."
Commenting on this new opportunity, Mr. Duffy said, "I am delighted to join the
Amarin team at this pivotal point in its growth and development. I look forward
to building out Amarin's U.S. commercial operation as the company advances its
pipeline to bring a number of very promising CNS therapeutics to market."
About Amarin
Amarin is committed to improving the lives of patients suffering from diseases
of the central nervous system. Our goal is to be a leader in the research,
development and commercialization of novel drugs that address unmet patient
needs.
Amarin has a late-stage drug development pipeline. Miraxion, Amarin's lead
development compound, is in phase III development for Huntington's disease
("HD"), phase II development for depressive disorders and entering Phase IIa
development for Parkinson's disease. Amarin's core development pipeline also
includes the global rights to an oral formulation of apomorphine for treating
patients with advanced Parkinson's disease and a nasal formulation of lorazepam
for treating emergency seizures.
Miraxion for HD is being developed under a Special Protocol Assessment agreed
with the US Food and Drug Administration ("FDA"), has been granted Fast Track
designation by the FDA and has received Orphan Drug designation in the US and
Europe.
Amarin has its primary stock market listing in the US on NASDAQ ("AMRN") and
secondary listings in the UK and Ireland on AIM ("AMRN") and IEX ("H2E")
respectively.
For press releases and other corporate information, visit the Amarin website at
http://www.amarincorp.com. Information on our website does not form part of this
press release.
Contacts:
Amarin +44 (0) 207 907 2442
Rick Stewart Chief Executive Officer
Alan Cooke Chief Financial Officer
investor.relations@amarincorp.com
Investors:
Lippert/Heilshorn & Associates, Inc.
Anne Marie Fields +1 212 838 3777
Bruce Voss +1 310 691 7100
Media:
Powerscourt +44 (0) 207 250 1446
Rory Godson
Victoria Brough
Disclosure Notice:
The information contained in this document is as of April 3, 2007. Amarin
assumes no obligation to update any forward-looking statements contained in this
document as a result of new information or future events or developments. This
document contains forward-looking statements about Amarin's financial condition,
results of operations, business prospects and products in research that involve
substantial risks and uncertainties. You can identify these statements by the
fact that they use words such as "will", "anticipate", "estimate", "expect",
"project", "forecast", "intend", "plan", "believe" and other words and terms of
similar meaning in connection with any discussion of future operating or
financial performance or events. Among the factors that could cause actual
results to differ materially from those described or projected herein are the
following: the success of Amarin's research and development activities,
including the phase III trials with Miraxion in Huntington's disease; decisions
by regulatory authorities regarding whether and when to approve Amarin's drug
applications, as well as their decisions regarding labeling and other matters
that could affect the commercial potential of Amarin's products; the speed with
which regulatory authorizations, pricing approvals and product launches may be
achieved; the success with which developed products may be commercialized;
competitive developments affecting Amarin's products under development; the
effect of possible domestic and foreign legislation or regulatory action
affecting, among other things, pharmaceutical pricing and reimbursement,
including under Medicaid and Medicare in the United States, and involuntary
approval of prescription medicines for over-the-counter use; Amarin's ability to
protect its patents and other intellectual property; claims and concerns that
may arise regarding the safety or efficacy of Amarin's product candidates;
governmental laws and regulations affecting Amarin's operations, including those
affecting taxation; Amarin's ability to maintain sufficient cash and other
liquid resources to meet its operating requirements; general changes in UK and
US generally accepted accounting principles; growth in costs and expenses; and
the impact of acquisitions, divestitures and other unusual items, including
Amarin's ability to integrate its acquisition of Amarin Neuroscience Limited. A
further list and description of these risks, uncertainties and other matters can
be found in Amarin's Annual Report on Form 20-F for the fiscal year ended
December 31, 2006 and in its Reports of Foreign Issuer on Form 6-K furnished to
the SEC.
Ends.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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