Amarin Announces Leadership Changes
BEDMINSTER, N.J., and DUBLIN, Ireland, Dec. 16, 2013 (GLOBE NEWSWIRE) -- Amarin Corporation plc (Nasdaq:AMRN), a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health, announced today the appointment of current President, John F. Thero, as President and Chief Executive Officer of the company, effective January 1, 2014. Mr. Thero will also be appointed to the Board of Directors, effective January 1, 2014. These appointments follow communication to the Board of Directors by Joseph S. Zakrzewksi of his intention to retire as Chief Executive Officer and Chairman of the Board of Directors of Amarin. In connection with Mr. Zakrzewski's retirement, Lars Ekman, MD, PhD, who currently serves as Lead Independent Director, will become Chairman of the Board, effective January 1, 2014. Mr. Zakrzewski will remain on the Board of Directors of Amarin.
"It is with great pleasure and confidence that we appoint John Thero as President and Chief Executive Officer of Amarin. John has been a key executive of Amarin since November 2009 and has contributed substantial executive leadership and operational value to the company. Expanding John's role to CEO was the natural decision as the company embarks on the next stages of its commercial growth," said Ekman. "On behalf of Amarin's employees and Board of Directors, I thank Joe Zakrzewski for the commitment, dedication and leadership he has provided since joining Amarin. We are pleased to have Joe continue as a member of the Board of Directors as we move forward."
"Amarin has a well differentiated product and a talented group of experienced professionals with significant records of achievement in the industry. I look forward to increasing our market presence with the current indication for Vascepa while continuing to aggressively pursue additional pathways for market expansion of our flagship product," stated Mr. Thero.
Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health. Amarin's product development program leverages its extensive experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. Vascepa® (icosapent ethyl), Amarin's first FDA approved product, is a patented, ultra pure omega-3 fatty acid product comprising not less than 96% EPA. For more information about Vascepa visit www.vascepa.com. For more information about Amarin visit www.amarincorp.com.
This press release contains forward-looking statements, including statements about the effective date of certain leadership changes and statements about Amarin's product differentiation and expectations for commercial growth. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. In particular, as disclosed in its previous filings with the U.S. Securities and Exchange Commission, Amarin's ability to effectively commercialize Vascepa will depend in part on its ability to create market demand for Vascepa through education, marketing and sales activities, to achieve market acceptance of Vascepa, to receive adequate levels of reimbursement from third-party payers, to develop and maintain a consistent source of commercial supply at a competitive price, and to obtain and maintain patent protection and regulatory exclusivity. 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 its most recent Quarterly Report on Form 10-Q. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Amarin undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.
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