Why Amarin Rose as Much as 7.9% Today

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Amarin (NASDAQ: AMRN) spiked nearly 8% on Tuesday before falling to earth and landing essentially flat over Monday’s close. The day’s moves followed a seemingly encouraging development for the only drug the company has on the market.

Amarin announced that the regulatory approval process for Vascepa has started in China and Hong Kong.

On the mainland, the Chinese National Medical Products Administration has accepted a new drug application for the medicine. The Hong Kong Department of Health is separately evaluating it based on current approvals in the U.S. and Canada. Amarin’s partner Edding has filed both submissions.

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