Reuters: Global Markets: Amarin shares jump after website goof on heart drug approval

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Amarin shares jump after website goof on heart drug approval Jul 19th 2012, 18:32 Thu Jul 19, 2012 2:32pm EDT (Reuters) - Shares of Amarin Corp's (AMRN.O) rose as much as 9 percent to their year high on Thursday morning, after the Irish company accidently put up a website showing that its experimental heart drug had been approved by U.S. drug regulators. The drug, which aims to cut fat content in the blood, is still under marketing review by the U.S. Food and Drug Administration. A decision is expected on July 26. Amarin said in a regulatory filing that the information was inadvertently published through a draft website that is under design by third parties on behalf of Amarin. "The information was outdated and should not be relied upon as accurate," Amarin said. The website showed the drug labeled "vascepa" and indicated as an adjunct to diet to reduce triglyceride and apolipoprotein B levels in patients with very high triglycerides -- a blood fat that contributes to heart disease alongside cholesterol. Regulatory approval will allow the company to take on GlaxoSmithKline Plc's (GSK.L) popular heart pill Lovaza. Both drugs contain omega-3 fatty acids, the heart-protecting chemicals found in fish oil, and are designed to treat patients with very high levels of triglycerides. Amarin shares were up 3 percent at $15.14 in afternoon trade after hitting a high of $15.96 earlier on the Nasdaq. Over 13 million shares had changed hands, more than double their 50-day moving average volumes. (Reporting by Balaji Sridharan in Bangalore; Editing by Anthony Kurian)

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