Amarin (AMRN) shares this week have declined 5% while The Medicines Co. (MDCO) stock is up 35%, Citi analyst Joel Beatty tells investors in a research note. This has brought The Medicines Co.'s enterprise value to $7.5B, exceeding Amarin's enterprise value of $7.4B, the analyst points out. However, he does not see anything fundamental having changed that would support this "drastic of a change in the relative valuation of the two companies." Thus, while Beatty keeps a Neutral rating on both stocks, he prefers owning Amarin over The Medicines Co. at this time. The Medicines Co. now looks expensive relative to Amarin, he contends. Further, the analyst says that Bloomberg's report this week of Novartis (NVS) having expressed interest in The Medicines Co. does not provide new evidence that the company is attractive from a valuation standpoint to potential acquirers.

Amarin Corporation announced shareholder approval of all proposed resolutions specified at its 2024 Annual General Meeting. Importantly, shareholders approved each of the two proposals required for the Company to proceed with its previously announced intent to pursue a share repurchase program of up to $50 million. This permits the Company to request U.K. High Court approval, as required under U.K. company law, and if approved by the U.K. High Court, commence the share repurchase program by the end of the second quarter of 2024. As part of the Annual General Meeting, shareholders also approved the following resolutions: Re-elected Mr. Patrick Holt, Mr. Louis Sterling III and Ms. Patrice Bonfiglio as directors of the Company; Approved the compensation of the Company's "named executive officers" as described in full in the "Executive Compensation Discussion and Analysis" section of the Company's definitive proxy statement; Approved the appointment of Ernst & Young LLP as auditors of the Company until the conclusion of the next general meeting; Approved the proposed amendment to the Company's 2020 Stock Incentive Plan; Authorized and approved the amended and restated articles of association to require all directors to retire and seek re-election at each annual general meeting of the Company.