Welcome to our dedicated page for Amarin Plc news (Ticker: AMRN), a resource for investors and traders seeking the latest updates and insights on Amarin Plc stock.
Amarin Corporation Plc (NASDAQ: AMRN) is a pioneering biopharmaceutical company dedicated to improving cardiovascular health through the development and commercialization of innovative therapeutic products. The company's flagship product, VASCEPA® (icosapent ethyl), is designed to address cardiovascular risks and has received FDA approval in the United States as well as marketing authorization in Europe under the brand name VAZKEPA®.
Amarin's mission is to advance scientific understanding and provide effective treatments for high-risk cardiovascular patients who have not adequately responded to traditional therapies. VASCEPA, a unique form of eicosapentaenoic acid (EPA), has been shown in clinical trials to significantly reduce cardiovascular events, offering a new therapeutic option for patients with elevated triglyceride levels.
In recent years, Amarin has undertaken strategic initiatives to bolster its market presence and financial stability. Notable accomplishments include:
- Leadership Restructure: In 2023, Amarin appointed new executives, including President & CEO Patrick Holt, to drive the company's global strategy and operational improvements.
- Revenue Growth in Europe: Amarin reported approximately 65% growth in in-market sales in Europe for Q1 2024 compared to Q4 2023, with significant progress in Spain and the UK.
- Financial Discipline: The company has implemented measures to reduce operating expenses and preserve cash, closing 2023 with $321 million in cash and no debt.
- Share Repurchase Plan: In early 2024, Amarin announced a share repurchase plan of up to $50 million to enhance shareholder value, pending necessary approvals.
Amarin's commitment to cardiovascular health extends globally, with operations in the United States, Europe, and partnerships in Canada, China, and other regions. The company continues to explore new market opportunities and strengthen its intellectual property portfolio, as evidenced by the recent extension of VAZKEPA's patent protection in Europe until 2039.
For more information, visit www.amarincorp.com and the dedicated VASCEPA site at www.vascepa.com.
Amarin (NASDAQ:AMRN) has received national reimbursement approval for VAZKEPA® in Italy through the National Health Service (NHS) to reduce cardiovascular risk in eligible high-risk patients. Italy becomes the third EU5 market and ninth European country overall to grant national reimbursement for VAZKEPA®.
The approval is significant as cardiovascular disease is Italy's leading cause of death, with over 217,000 deaths yearly and 107,000 hospitalizations due to myocardial infarction alone. Countries with VAZKEPA® access now represent more than 50% of Western Europe's established Cardiovascular Disease population.
The company recently secured patent protection for VAZKEPA in Europe until 2039, with no 'skinny label' risk for competitive entry before patent expiration. VASCEPA/VAZKEPA has been approved in 46 countries globally for cardiovascular risk reduction.
Amarin (NASDAQ:AMRN) has appointed Peter Fishman as its new Chief Financial Officer, effective immediately. Fishman, who previously served as the company's Global Controller and principal financial and accounting officer since October 2024, will lead Amarin's global finance organization and report to CEO Aaron Berg.
Fishman brings nearly 20 years of experience in finance, including accounting, financial reporting, treasury, tax, and audit. He has been with Amarin since 2019, playing key roles in the company's financing efforts and cash management strategy. Prior to Amarin, he held positions at Toys R Us and Ernst & Young, where he served pharmaceutical clients. Fishman holds a BA in accounting from American University, an MBA from Rowan University, and is a certified public accountant.
Amarin (NASDAQ:AMRN) announced upcoming presentations of new REDUCE-IT trial subanalysis and mechanistic data at the American Heart Association's Scientific Sessions (November 16-18, 2024) in Chicago. The presentations will focus on VASCEPA®/VAZKEPA® (icosapent ethyl) effectiveness in patients with and without coronary artery disease (CAD) history.
Key presentations include cardiovascular risk reduction data in patients with prior cardiovascular events, EPA's antioxidant effects in endothelial cells, and EPA's impact on Lp(a) particle oxidation. The research highlights that approximately 20% of the global population is affected by high Lp(a) concentrations, which increase cardiovascular event risk by 2-4 times.
Amarin (AMRN) reported Q3 2024 financial results with total net revenue of $42.3 million, down 36% from $66.1 million in Q3 2023. The company maintains a strong cash position of $306 million. European VAZKEPA sales grew 19% sequentially, driven by Spain and UK markets. U.S. net product revenue was $30.6 million, while European and RoW revenues were $4.3 million and $6.9 million respectively. The company reported a net loss of $25.1 million or $0.06 per share. Operating expenses decreased 18% to $41.4 million due to cost optimization efforts.
Amarin plc (NASDAQ:AMRN) has announced two upcoming investor events. The first event is the Third Quarter 2024 Financial Results report on October 30, 2024, followed by a conference call with senior management at 5:00 pm ET. Investors can access the live call through the company's website or by dialing in.
The second event is a Virtual Analyst & Investor Day on November 14, 2024, from 8:00 AM to 10:00 AM EST. This event will focus on updating the investment community about the VASCEPA/VAZKEPA franchise, with emphasis on key geographies representing the franchise's future value, including Europe. The event will include a Q&A session with questions submitted in advance. Both events will be webcast and archived for future reference.
Amarin (NASDAQ: AMRN) announced the presentation of new research on VASCEPA (icosapent ethyl) at the 60th Annual European Association for the Study of Diabetes (EASD) Meeting, September 9-13, 2024, in Madrid, Spain. The research highlights VASCEPA's impact in patients with diabetes and high cardiovascular risk, and the anti-Lp(a) oxidation effects of EPA. Two abstracts will be presented: a post-hoc analysis from the REDUCE-IT trial on patients with cardiovascular disease and diabetes who had coronary artery bypass grafting (CABG), and an in-vitro analysis of EPA's effects on lipoprotein(a) oxidation under hyperglycemic conditions. These findings aim to better understand therapies for reducing cardiovascular risk in vulnerable patients. Presentations are scheduled for September 10 and 11, 2024.
Amarin plc (NASDAQ:AMRN) announced new data presentations at the European Society of Cardiology (ESC) Congress from August 30 to September 2, 2024. The presentations focus on VASCEPA®/VAZKEPA® (icosapent ethyl) and its active ingredient, eicosapentaenoic acid (EPA). Key presentations include:
1. A REDUCE-IT® subgroup analysis on the effect of icosapent ethyl on cardiovascular events based on baseline small dense LDL cholesterol levels.
2. An examination of triglycerides' association with cardiovascular events in acute coronary syndrome patients.
3. An estimate of Spanish hospital patients eligible for icosapent ethyl treatment.
4. A study on EPA's effects on Lp(a) oxidation under high glucose conditions.
These presentations aim to enhance understanding of VASCEPA/VAZKEPA's clinical utility and mechanism of action in reducing residual cardiovascular risk.
Amarin plc (NASDAQ:AMRN) reported Q2 2024 financial results and provided a business update. Key highlights include:
- Total net revenue of $67.5 million, down 16% year-over-year
- Cash position of $307 million
- Net income of $1.5 million, or $0.00 per share
- Non-GAAP adjusted net income of $5.9 million, or $0.01 per share
- Completed CEO transition with Aaron Berg appointed as President and CEO
- Received regulatory approval for VASCEPA in China for cardiovascular risk reduction
- Secured national reimbursement for VAZKEPA in Portugal and Greece
- Delivered $50 million in annual savings from 2023 restructuring
The company faces challenges from generic competition in the U.S. but continues to focus on operational execution and expanding VASCEPA/VAZKEPA globally.
Amarin plc (NASDAQ:AMRN) has announced that the Portuguese Ministry of Health has approved VAZKEPA® (icosapent ethyl) for national reimbursement. This approval is aimed at reducing cardiovascular event risks in adult statin-treated patients with high cardiovascular risk, elevated triglycerides, and established cardiovascular disease or diabetes with at least one other cardiovascular risk factor.
The reimbursement, effective August 1, 2024, marks the eighth national reimbursement of VAZKEPA® in Europe, where Amarin has intellectual property protection until 2039. This approval addresses a significant need in Portugal, where cardiovascular disease accounts for 29% of total mortality. Amarin's CEO, Aaron Berg, emphasized the importance of this new treatment option for Portuguese patients and physicians.
Amarin plc (NASDAQ:AMRN) has announced it will host a conference call on July 31, 2024, at 8:00 a.m. ET to discuss its second quarter 2024 financial results. The call will feature Aaron Berg, President & CEO, and other senior management team members. The financial results will be released pre-market on the same day.
To enhance shareholder engagement, Amarin is partnering with Say Technologies, allowing shareholders to submit and upvote questions from July 17th at 8:00 am ET until 24 hours before the call. Selected questions will be answered during the earnings call. Shareholders can submit questions at https://app.saytechnologies.com/amarin-2024-q2.
The conference call can be accessed through Amarin's website or by dialing in. A replay will be available after the call.
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