December 6, 2012 / 10:00 PM / 5 years ago

Amarin raises $100 million to help launch heart drug

1 Min Read

(Reuters) - Biopharmaceutical company Amarin Corp Plc said it raised $100 million in non-equity financing that will help it form a sales force to launch its heart drug Vascepa.

Amarin shares, however, fell 22 percent after the bell as the company did not announce a sale or a partnership to market the drug, as some investors had expected.

"This transaction provides Amarin with non-dilutive capital that will ensure our ability to fully execute on the Vascepa product launch while continuing our strategic partnership discussions," CEO Joseph Zakrzewski said in a statement.

The company said it will hire 250 to 300 sales professional to launch Vascepa in the first quarter of 2013.

Reporting By Vrinda Manocha in Bangalore; Editing by Don Sebastian

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below