BIOTECH · @_B_I_O_T_E_C_H_
2nd Sep 2020 from TwitLonger
Leerink $AMRN Not the Most Favorable Appeals Judge Lineup for Amarin
• Bottom Line: Overall, we don't believe this 3-judge panel improves
Amarin's chances at winning the Vascepa patent litigation appeal,
and the stock is down 15-20% on the news in early trading.
We look
for additional details that could come up from the oral arguments
hearing later this morning to see if that provides us with any
additional visibility. The 3 judges assigned to Amarin's panel are
Timothy Dyk, Jimmie Reyna, and Todd Hughes. Of the three, we believe
Jimmie Reyna is most likely to vote in favor of Amarin, given that he
voted against prima facie in the 2012 Cyclobenzaprine case and has
a split track record of voting against this procedure. For the remaining
two judges, Timothy Dyk and Todd Hughes, our analysis of select past
prima facie cases did not turn up instances where they voted against this
procedure, and we would not consider either judge to be in the upper half
of the 12 possible active judges most likely to side with Amarin. Next, we
look to the oral arguments hearing to glean any additional details on how
the judges may rule in this case, but overall we don't believe Amarin's
chances of winning the appeal are improved based on the composition of
the 3-judge panel.
• Up next is the Vascepa appeals oral arguments hearing. The oral
arguments lineup for the day will start at 10:00 a.m. EDT, and Amarin's
case is currently 2nd in the lineup for Panel F. Each oral arguments
hearing lasts for ~30 minutes, so we anticipate that for Amarin this will
occur from 10:30 to 11:00 a.m. Live audio of the hearing can be accessed
with the following dial-in: 844-291-5494; Access Code: 8333853 and a
recording of the hearing should be posted (HERE) by the end of the day.