Amarin set to appeal patent ruling that points way to generic competition for Vascepa

Amarin said it will appeal a judge’s patent decision that could blunt the rapid sales growth of cardiovascular drug Vascepa by removing a barrier for generic competition. The ruling, issued after market hours Monday, is likely to cost Amarin billions of dollars in market cap in Tuesday’s session.

A federal judge in the U.S. District Court for the District of Nevada ruled that although as-yet-unapproved generic versions of Vascepa icosapent ethyl from Hikma Pharmaceuticals plc (LSE:HIK) and Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) do infringe claims in several patents protecting the fish oil derivative, the patents themselves are invalid due to obviousness...