Amarin and Forest Laboratories Under Review: Drug Makers Face Growing Generic Competition
LONDON, February 15, 2013 /PRNewswire/ --
Last year saw the expiration of patents for several blockbuster drugs,leading to increasing generic competition. The trend is expected to continue in 2013,with patents on a number of blockbuster drugs set to expire. For drug manufacturers,intensifying generic competition is a major concern. Meanwhile,companies such as Amarin Corporation Plc (ADR) (NASDAQ: AMRN) and Forest Laboratories Inc. (NYSE: FRX) are also assessing the impact of President Obama's Affordable Care Act (ACA). StockCall has released free charting and technical research on these two aforementioned companies. Register to read these reports at
Generic competition is a major concern for major pharmaceutical companies as well as biotechnology firms. Earlier this month, Merck & Co. had reported a 7% drop in its fourth quarter profit due to hits from generic competition.
With several blockbuster drugs set to see their patents expire this year, the competition from generic drugs is expected to intensify. Generic competition is expected to erode billions of dollars from major pharmaceutical and biotechnology companies' annual sales. The key for big pharmaceutical companies, as well as for companies such as Amarin Corporation Plc and Forest Laboratories Inc., will be to make investments in new drug discovery and development and create a strong pipeline of products.
Impact of Affordable Care Act (ACA)
Another major development in the pharmaceutical industry has been the Affordable Care Act (ACA). The U.S. Supreme Court last year upheld the ACA and the healthcare industry is now preparing for sweeping changes that will hit the industry.
While the ACA has its critics, the reform could ultimately benefit drug manufacturers as the increase in the number of insured individuals will boost sales. In the near-term though, the reform may lead to higher costs for companies.
Amarin Corporation Plc Issued Notice of Allowance by USPTO
Earlier this week, Amarin Corporation Plc, which focuses on the commercialization and development of therapeutics to improve cardiovascular health, said that the United States Patent and Trademark Office (USPTO) published notification of Notice of Allowance for U.S. Patent Application Serial Number 13/614,129. The patent is related to Vascepa®, which is the company's first FDA approved product. Sign up for the free report on Amarin Corporation plc at
Last month, Amarin Corporation Plc announced that Vascepa capsules, a therapy for patients in the U.S. to treat severe hypertriglyceridemia, is available by way of physician prescription.
Joseph Zakrzewski, Chairman and CEO of Amarin Corporation Plc, said that the company has worked closely with leading clinical experts and regulatory authorities to bring the important new prescription pure-EPA omega-3 therapy to patients with very high triglycerides.
Forest Laboratories Inc.'s Q3 Results
Last month, Forest Laboratories Inc. reported its financial results for the third quarter of fiscal 2013. The company's GAAP loss per share for the quarter was $0.58. Net sales for the quarter were $678 million. Forest Laboratories Inc. free technical report can be accessed by signing up at
Howard Solomon, Chairman and CEO of Forest Laboratories Inc., last month, said that in the third quarter of fiscal 2013, as expected, the company incurred a loss resulting principally from sales lost following the expiration of Lexapro's patent exclusivity in March 2012. Solomon, however, noted that the company launched two new products in December 2012 and believes that the sales of these products, and the seven products already launched, will ultimately equal and exceed the sales lost following the expiration of Lexapro's exclusivity.
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