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Amarin Names New President/CEO

Amarin Names New President/CEO: Colin Stewart Had led CollaGenex [The Day, New London, Conn.]

From Day, The (New London, CT) (August 18, 2010)

Aug. 18--The Amarin Corp. said Tuesday it has appointed a new president and chief executive officer with more than three decades of experience in the pharmaceutical industry.

Amarin, whose research-and-development facilities are in Mystic, named Colin W. Stewart as its president and CEO and as a member of its board of directors.

Declan Doogan, who had been the Mystic company’s interim chief executive, will remain with the company as its chief medical officer.

"We are very excited by the addition of Colin Stewart to the Amarin team," said company chairman Joseph Zakrzewski in a statement announcing the new CEO. "He brings a wealth of commercial and executive management experience," he said.

Stewart’s industry experience includes serving for five years as the president and chief executive officer of CollaGenex Pharmaceuticals in Pennsylvania, where he successfully grew the company, leading to its sale in 2008.

In addition, he served for a decade with ASTA Medica Group, managing business units in the United States and internationally. He began his pharmaceutical career in sales and marketing for the British Winthrop Laboratories Ltd.

Amarin, a publicly traded company with operations in Dublin and Mystic, is a bio pharmaceutical company focused on treating cardiovascular disease. Its lead product, called AMR101, is a new drug involved in late-stage clinical trials for treating high triglyceride levels. This past week, Amarin announced that one of its Phase 3 trials was completed earlier than expected and top-line results are now expected early next year.

Stewart said he is impressed with Amarin’s performance since it restructured and recapitalized its operations late last year. "With Phase 3 studies of AMR101 for two indications advancing well and scheduled to report in 2011, we will continue to explore every opportunity to maximize the potential commercial value of this promising new drug," said Stewart in prepared remarks.

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Posted: August 2010