Latest News by Industry
The NEW Amarin and NEW Board is On the Right Track – Leading Independent Experts, ISS and Glass Lewis, Agree that Sarissa Representation is Not Warranted
Sarissa’s Misguided Campaign to Remove Amarin’s Chairman and Gain De Facto Board Control Would be Detrimental to Shareholder Value
Sarissa Continues to Spread Misinformation at the Expense of All Amarin Shareholders in its Self-Serving Attempt to Get on the Board
Deadline to Submit Votes for ADS Holders is 3 PM GMT (10 AM ET) on February 22, 2023, and 3 PM GMT (10 AM ET) on February 24, 2023, for Holders of Ordinary Shares
DUBLIN, Ireland and BRIDGEWATER, N.J. , Feb. 17, 2023 (GLOBE NEWSWIRE) -- The Amarin Corporation plc (NASDAQ: AMRN) (“Amarin” or the “Company”) Board of Directors today issued the following statement reiterating to shareholders its recommendation to vote on the WHITE proxy card “AGAINST” all of Sarissa’s harmful proposals ahead of the General Meeting of Shareholders, which is scheduled to be held on February 28, 2023. Shareholders of record as of January 23, 2023, will be entitled to vote at the meeting. For ADS holders, the deadline to submit votes is 3 PM GMT (10 AM ET) on February 22, 2023, and for holders of ordinary shares, the deadline is 3 PM GMT (10 AM ET) on February 24, 2023.
The Amarin Board has one critical message for our shareholders: Amarin is at an inflection point, where upcoming pricing and reimbursement negotiations and decisions will chart the future for the Company, including ensuring M&A is a viable option. Our refreshed Board are the change agents the Company needs and have actively positioned the business to turn Amarin around and drive near- and long-term value.
As leading independent proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis & Co (“Glass Lewis”) recognized in their vote recommendations for Amarin’s WHITE proxy card “AGAINST” Sarissa’s proposals, the new and refreshed Board has already made significant changes over the last 18 months. Meanwhile, Sarissa has failed to make a compelling case for change. ISS and Glass Lewis’s recommendations are important third party endorsements that Amarin has the RIGHT strategy, RIGHT team and RIGHT Board to drive near- and long-term value. Here is why:
The Amarin Board has been and continues to be 100% focused on advancing all of our shareholders’ best interests. Sarissa, on the other hand, purposefully provides shareholders with misinformation as part of its transparent attempt to do anything to get on the Board. Sarissa is only focused on serving its own self-interest at the expense of all Amarin shareholders. If Sarissa cannot be trusted to provide shareholders with the truth, why should it be trusted as a steward of shareholder value creation? The current Amarin Board is best equipped to guide the NEW Amarin and maximize shareholder value.
We strongly urge all shareholders to consider what is at stake and vote “AGAINST” Sarissa’s harmful proposals on the WHITE proxy card.
With Amarin’s February 28 General Meeting fast approaching, it is extremely important that you vote as soon as possible, no matter how many shares you own. Shareholders can switch their vote at any time by simply voting on the WHITE proxy card “AGAINST” all of Sarissa’s harmful proposals. Only the latest-dated proxy counts.
Amarin shareholders who need assistance in voting their shares may call Amarin’s proxy solicitors: Morrow Sodali at (800) 662-5200 (toll-free) or (203) 658-9400 (collect) or Okapi Partners at (844) 343-2625 (toll-free) or (212) 297-0720 (international).
Additional materials regarding the Board of Directors’ recommendations for the General Meeting can be found at www.voteamarin.com.
Advisors
J.P. Morgan is acting as financial advisor. Ropes & Gray LLP and Goodwin Procter LLP are acting as legal advisors to the Company.
About Amarin
Amarin is an innovative pharmaceutical company leading a new paradigm in cardiovascular disease management. From our foundation in scientific research to our focus on clinical trials, and now our commercial expansion, we are evolving and growing rapidly. Amarin has offices in Bridgewater, New Jersey in the United States, Dublin in Ireland, Zug in Switzerland, and other countries in Europe as well as commercial partners and suppliers around the world. We are committed to increasing the scientific understanding of the cardiovascular risk that persists beyond traditional therapies and advancing the treatment of that risk.
Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to U.S. federal securities law. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. A further list and description of these risks, uncertainties and other risks associated with an investment in Amarin can be found in Amarin’s filings with the U.S. Securities and Exchange Commission, including Amarin’s annual report on Form 10-K for the full year ended 2021, and Amarin’s quarterly reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022, and its other filings. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Amarin undertakes no obligation to update or revise the information contained in its forward-looking statements, whether as a result of new information, future events or circumstances or otherwise. Amarin’s forward-looking statements do not reflect the potential impact of significant transactions the company may enter into, such as mergers, acquisitions, dispositions, joint ventures or any material agreements that Amarin may enter into, amend or terminate.
Amarin Contact Information
Investor Inquiries:
Lisa DeFrancesco
Investor Relations Amarin Corporation plc
investor.relations@amarincorp.com (investor inquiries)
Media Inquiries:
Mark Marmur
Corporate Communications, Amarin Corporation plc
PR@amarincorp.com (media inquiries)
Or
Steve Frankel / Andi Rose / Tali Epstein
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
1 Statistics are based on the total stock return of companies where a Sarissa-affiliated director held tenure as a board member, from the market date immediately preceding their first date in-service, to the final date of their service or February 3, 2023. Companies with Sarissa-affiliated directors include VIVUS, Inc., Emmaus Life Sciences, Inc., ARIAD Pharmaceuticals, Inc., Aegerion Pharmaceuticals, Inc., The Medicines Company, Novelion Therapeutics, Inc., Bioverativ, Inc., Innoviva, Inc., Regulus Therapeutics, Inc., Armata Pharmaceuticals, Inc., Ironwood Pharmaceuticals, Inc., and Alkermes, Plc