Amarin and Horizon Pharma Higher Ahead of PDUFA Dates

Horizon Pharma (NASDAQ: HZNP) and Amarin (NASDAQ: AMRN) both have upcoming Prescription Drug User Fee Act dates on Thursday. PDUFA refers to the fees that the FDA collects from drug manufacturers and allocates towards a drug's review process. The FDA traditionally makes an effort to complete its reviews by a drug's PDUFA date, though it is not a guaranteed deadline.

Horizon's drug candidate is known as LODOTRA and is indicated for the treatment of rheumatoid arthritis in adults. Amarin's drug is known as AMR101 and is indicated for the treatment of very high triglycerides.

Both stocks are trading higher on Monday and have been surging in recent months. In mid-day trading, Horizon shares were up 8.28 percent to $7.80 while Amarin had added a little less than 0.40 percent to $15.22. Year-to-date, Horizon has soared higher than 94 percent while Amarin is up more than 103 percent.