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 's (NASDAQ:AMRN) partner, EddingPharm, has received regulatory approval for VASCEPA® (icosapent ethyl) from China's National Medical Products Administration (NMPA) for cardiovascular risk reduction. VASCEPA will now be used alongside statin therapy to reduce cardiovascular events in adults with elevated triglycerides (≥150 mg/dL) and other high-risk factors. EddingPharm is preparing for the National Reimbursement Drug Listing (NRDL) to enhance commercial launch across Mainland China. This approval is significant given China's high cardiovascular disease (CVD) burden, with 330 million patients and CVD accounting for up to 47% of deaths. VASCEPA's inclusion in the NRDL could ensure widespread access and reimbursement. Additionally, Amarin will receive a $15 million milestone payment and tiered double-digit royalties on net sales in China. However, EddingPharm must conduct a post-approval study to further validate VASCEPA's efficacy.
Amarin (NASDAQ:AMRN) has appointed Aaron Berg as the new President and CEO, effective immediately. Berg, previously Executive Vice President and President of the U.S. Business at Amarin, succeeds Patrick Holt, who is stepping down to pursue other opportunities. Berg brings over 30 years of biopharmaceutical industry experience, including significant roles at Kos Pharmaceuticals and Essentialis. His immediate focus will be on delivering value to investors and maximizing the potential of VASCEPA®/VAZKEPA for patients. This leadership change is expected to drive strategic initiatives and business growth for Amarin.
Amarin (NASDAQ:AMRN) has announced that the Greek Ministry of Health has approved VAZKEPA® (icosapent ethyl) for national reimbursement. This decision allows high-risk cardiovascular patients treated with statins and having elevated triglycerides to access the drug. VAZKEPA® has now achieved national reimbursement in seven European countries.
To commercialize VAZKEPA® in Greece, Amarin has partnered with Vianex S.A., a leading pharmaceutical company in Greece. Vianex will be the exclusive distributor, handling the import, registration, distribution, and commercialization of the product. Amarin will supply the finished product to Vianex at a transfer price. The distribution will commence in the coming weeks.
Amarin's President & CEO, Patrick Holt, highlighted that this approval underscores the strength of their scientific data and the value VAZKEPA® offers to patients at risk of cardiovascular events. Christos Papadopoulos, Amarin’s Senior VP and Head of Commercial Europe, emphasized Vianex's strong commercial capabilities and expertise in cardiology, which align well with successfully bringing VAZKEPA® to Greek patients.
Amarin plc (NASDAQ: AMRN) will have their president and CEO, Patrick Holt, participate in a fireside chat at the 2024 H.C. Wainwright 2nd Annual BioConnect Investor Conference on May 20th, 2024, in NYC. The session will be webcast live and archived on the Company’s website.
Amarin plc (NASDAQ:AMRN) reported its first-quarter 2024 business update and financial results. The company received a new patent extending intellectual property protection in Europe until 2039. While the U.S. market saw a decline in revenue due to generic competition, the European market experienced significant growth. Amarin also announced a share repurchase program and remains stable with a cash position of $308 million. Overall, the company is focused on enhancing its value for the future.
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