Hikma gains FDA approval for its generic Vascepa
Shares of London-listed generics drugmaker Hikma Pharmaceuticals (LSE: HIK) rose 1.5% to 2,553 pence on Friday, after the Jordanian company announced that its wholly-owned US subsidiary has received approval from the US Food and Drug Administration for its icosapent ethyl capsules, 1gm, the generic equivalent to Vascepa, a fish-oil-based drug from US firm Amarin (Nasdaq: AMRN).
In March 2020, the US District Court for the District of Nevada invalidated six key Vascepa patents owned by Amarin. The District Court decision is currently being appealed.
Cardiovascular specialist Amarin's patents in Europe, Canada and elsewhere remain valid, giving the firm years of market exclusivity in those jurisdictions.
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