Biotech firm may not be sold until next year

AMARIN, the biotechnology firm developing a cholesterol drug, may not reach an agreement with a suitor until later this year or 2012, chief executive Joe Zakrzewski said.

The company, based in Dublin and Mystic, Connecticut, expects to file for US regulatory approval of the cholesterol medicine AMR101 in the next quarter and is in talks about potential licenses or a buyout, Mr Zakrzewski said.

“If you offer me $15 (€10.40) a share, I am waiting,” Mr Zakrzewski said. “If you offer $30, $40, $100 it’s a different story. There is a lot that can happen and the situation is very fluid.”