Amarin CFO re­signs amid cost-cut­ting mea­sures, staff re­duc­tion of 40%

A year af­ter a Supreme Court opin­ion put the fi­nal nail in the cof­fin for Amarin’s fish-oil heart drug, the biotech is mak­ing some changes to keep its doors open.

The Irish drug­mak­er an­nounced ear­ly Mon­day that it will be cut­ting 65% of its US com­mer­cial staff, which will ef­fec­tive­ly re­sult in a 90% drop from pre-pan­dem­ic lev­els and a 40% re­duc­tion in over­all em­ploy­ee num­bers. On top of that, it would al­so im­ple­ment cer­tain “re­duc­tions and re­al­lo­ca­tions in over­all sell­ing, gen­er­al and ad­min­is­tra­tive (SG&A) ex­pens­es as well as sav­ings re­lat­ed to re­fin­ing the Com­pa­ny’s R&D strat­e­gy to a more fo­cused, step­wise ap­proach for its FDC pro­gram.”

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