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Amarin Corporation Plc (NASDAQ:AMRN) on Tuesday entered into an exclusive long-term license and supply agreement with Recordati S.p.A., Italy, to commercialize Vazkepa (icosapent ethyl) in 59 countries, with a focus on Europe.
Vazkepa (Vascepa in the United States) is indicated to reduce the risk of cardiovascular events. Amarin will streamline its global operations, further strengthening its financial position. Recordati will be responsible for commercializing Vazkepa in Europe.
Amarin will receive upfront cash of $25 million and milestone payments totaling up to $150 million contingent upon Recordati achieving predefined annual commercial net sales levels.
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Amarin will also receive supply-based revenues, including royalties for the supply of the product under the terms of the agreement.
“This long-term partnership with Recordati for Vazkepa in Europe, where we have patent protection up to 2039, combined with the company’s financial strengths, nearly $300 million in cash, no debt, an estimated $70 million in cost savings over the next 12 months and continued cost efficient revenue generation from multiple revenue streams, accelerates the path to positive cash flow and strengthens our strategic position for the future,” said Aaron Berg, President & CEO of Amarin.
Amarin will immediately initiate a global restructuring. Most of the estimated cost savings will come from reduced commercialization expenses in the company’s European operations. Streamlining global operations will drive an estimated $70 million in cost savings over the next 12 months.
Amarin will continue maximizing its U.S. business as a mature, profitable enterprise with meaningful cash flows. The company has multiple levers to continue to drive Vascepa revenue and cash flow generation.
Amarin will continue to generate revenue through its partnerships in key international markets.
Amarin reported a first-quarter 2025 adjusted loss of 2 cents per share, beating the consensus of a loss of 57 cents. Sales reached $42.02 million, missing the consensus of $50.75 million.
The company said that while its direct commercialization efforts remain in various early stages across the 10 markets where Vazkepa is currently launched in Europe, aggregate in-market demand grew 16% sequentially quarter over quarter, evidence of increasing momentum.
Price Action: AMRN stock is trading higher by 34.5% at $16.95 at last check Tuesday.
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Posted In: AMRN
