Amarin Corporation PLC (NASDAQ:
AMRN) is a biopharmaceutical company focused on the commercialization and
development of therapeutics to improve cardiovascular health. The company’s
first FDA-approved product, Vascepa®, is a prescription medication that, when
used alongside a low-fat and low-cholesterol diet, has been shown to lower high
levels of triglycerides in adults without raising LDL Cholesterol levels.
According to a report by the
Centers for Disease Control, approximately one-third of all American adults
have triglyceride levels that range from borderline to too high. As the
pharmaceutical industry continues to study the effects of these fatty particles
in the blood stream, the importance of maintaining healthy levels is becoming
clear. In addition to causing inflammation of the pancreas, there is increasing
evidence that supports a link between very high triglyceride levels and
cardiovascular disease.
During the first quarter of
2015, Amarin made major strides in growing its market share in the currently
underserved triglyceride treatment market. The company realized a 42 percent
growth in year-over-year revenue from Vascepa® sales and increased normalized
prescriptions by 66 percent, as compared to the first quarter of 2014. In an
effort to continue this growth, Amarin also entered into a licensing agreement
with Eddingpharm Ltd., which is intended to extend the commercialization of
Vascepa® into Mainland China in the future.
In 2011, Amarin initiated
REDUCE-IT, a first of its kind long-term study to determine prospective
cardiovascular outcomes in high-risk patients on statin therapy. Upon its
completion, the company predicts that the study will demonstrate the
effectiveness of taking a pure, EPA-only omega-3 drug, such as Vascepa®, on top
of existing statin therapy in reducing cardiovascular events. The company
expects to complete patient enrollment later this year, with the study
concluding in or about 2017.
“Executing on REDUCE-IT and
increasing revenues, while being opportunistic along the way, continue to be
our top priorities,” stated John F. Thero, President and Chief Executive
Officer of Amarin. “The Eddingpharm deal and our increased cash balance provide
us greater resources as we market Vascepa for use in our currently approved
indication and pursue the potentially multi-billion dollar market the REDUCE-IT
cardiovascular outcomes study is intended to open for Vascepa, assuming
successful results and further regulatory approval.”
Moving forward, Amarin is in a
strong strategic position to capitalize on the growing market for triglyceride
controlling medications. Through the company’s REDUCE-IT study, Amarin is
establishing a sizeable foothold in a market that may provide the opportunity
for sustainable returns moving forward.
For more information, visit
www.amarincorp.com
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