Amarin Corporation Plc (NASDAQ:AMRN) posted revenues of $135.3 million in Q2 2020. President of Amarin, John F. Thero said Q2 2020 is a challenging period for the company. Despite the ongoing coronavirus and adverse patient judgment, the company’s outlook is positive.
Resumes in-person interactions
John said the company recently resumed in-person interactions in various geographies with renowned healthcare professionals to prepare for the launch of innovative drug – VASCEPA to indicate cardiovascular risk reduction. The team at Amarin is putting in significant efforts to provide the benefits of VASCEPA to several million patients with cardiovascular disease in the US and across the world.
Supports review of VASCEPA
Amarin supports the review of its lead drug – VASCEPA by EMA (European Medicines Agency) in its commercialization efforts and introduced in early 2021 in Europe. It also works with the agencies for reimbursement of the drug in Europe.
Amarin will use its dedicated commercial organization based in Europe to commercialize VASCEPA on a large scale. The market for cardiovascular disease (CVD) in Europe is around Euro 210 billion annually. CVD is the chief cause of the death of 3.9 million people in Europe. It also causes the death of more than 1.8 million in the EU. Therefore, Amarin will reward its investors with a large pie of the multi-billion dollar CVD market in Europe. Amarin will also partner with smaller companies in Europe for wider adoption of its life-saving drug. The company added Karim Mikhail as SVP to head the commercialization efforts in Europe.
Clinical outcome by the end of 2020
Amarin expects to publish the clinical outcome of VASCEPA in China by the end of 2020. The company already received the FDA’s approval for cardiovascular risk reduction in patients who are suffering from high cardiovascular risks on December 13, 2019. As part of its commercialization efforts, the company strengthened its sales force in the US.
Prescriptions for VASCEPA surged by 47%
The prescriptions for VASCEPA are increased by 47% in Q2 2020. According to the data provided by IQVIA and Symphony Health, the normal prescriptions are 1.007 million and 1.090 million in Q2 2020. The ongoing COVID-19 pandemic severely impacted prescription and revenues of VASCEPA in Q2 2020.