Sarissa Capital Management issues statement on Amarin

Sarissa Capital Management made the following statement on Amarin Corporation: "In 2022 alone, Amarin stock lost over two-thirds of its value, and shareholders lost over $840 million in equity. The European launch is behind schedule, reimbursement in Germany appears imperiled, and spending mismanagement has weakened the cash coffers. Yet the board has the audacity to state publicly, "the Company made solid progress in 2022, against its strategic objectives." To shareholders, the owners of the company, these statements are gravely concerning because they reflect a total lack of understanding of events and the mission of the board and management – to maximize value for shareholders. To do so, the company must not destroy value. Indeed, Amarin has repeatedly overpromised and underdelivered. Below are three of many examples. Vascepa is a great drug with the potential to have a meaningful impact on society. However, since the label expansion for cardiovascular risk reduction, Amarin stock has lost over 90% of its value. Last year, management committed to launching in up to six key European markets and obtain pricing and reimbursement approval in up to eight European markets in 2022. They launched and secured positive pricing and reimbursement decisions in only five European markets… Amarin’s slow, reactive responses to changing market dynamics have destroyed significant shareholder capital. An alarming example from 2022 is Amarin’s slow response to the US launch of a third generic in January 2022 that quickly and meaningfully reduced sales via both price and volume…As detailed in our previous press release, Sarissa has submitted notice to Amarin to call a special meeting to remove Chairman Per Wold-Olsen from the board and add 7 directors to the board. In accordance with UK law, Amarin has up to 21 days to call the special meeting, which must be held within 28 days of calling the special meeting. We are asking all shareholders to remain engaged and voice their opinions by voting at the special meeting.