Amarin Corporation

Amarin Corporation is an Irish-American biopharmaceutical company founded in 1993 and headquartered in Dublin, Ireland And Bridgewater,United states.[3] The company develops and markets medicines for the treatment of cardiovascular disease. It has developed the drug Vascepa (AMR-101), a prescription grade omega-3 fatty acid.

Amarin Corporation
TypePublic
NASDAQ: AMRN
IndustryBiotechnology
Founded1993
HeadquartersDublin Ireland


Bridgewater,United states[1]
ProductsVascepa (AMR-101)
Revenue $429.2 Million(2019)[2]
Number of employees
~900
Websitewww.amarincorp.com 

In July 2012, their lead-candidate drug named Vascepa (AMR-101) received FDA-approval,[4][5] competing against GlaxoSmithKline's Lovaza.[6]

History

Amarin Corporation plc (formerly Ethical Holdings plc) was originally incorporated in England as a private limited company on March 1, 1989, and later re-registered as a public company on March 19, 1993.[7] In 2002, the company suffered losses worth $37 million; 2003 losses exceeded $19 million.[8] As of 2005, it was developing neurology drugs. It developed Miraxion to treat serious hereditary neurodegenerative disease.[8]

In December 2007, Amarin acquired Ester Neurosciences Limited for US$8.1 million.[9] In 2011, CEO Joe Zakrzewski said that the company would like to first work on building its infrastructure out to commercialize the drug in the United States.[10]

Products and development

Vascepa

Amarin´s sole product VASCEPA® came on the market in 2013 for triglyceride levels >=500 milligrams per deciliter. In December 2019, the FDA approved "...the use of Vascepa (icosapent ethyl) as an adjunctive (secondary) therapy to reduce the risk of cardiovascular events among adults with elevated triglyceride levels (a type of fat in the blood) of 150 milligrams per deciliter or higher. Patients must also have either established cardiovascular disease or diabetes and two or more additional risk factors for cardiovascular disease....Vascepa is the first FDA approved drug to reduce cardiovascular risk among patients with elevated triglyceride levels as an add-on to maximally tolerated statin therapy.[11]

Furthermore, VASCEPA® is in use in clinical trials by 3rd parties to see, if it has an effect on Alzheimer, Colon Cancer, Nonalcoholic Steatohepatitis (NASH), and other diseases.[12]

HLS Therapeutics, Amarin´s license partner in Canada, presented results of their COVID-19 clinical trial for Vascepa at National Lipid Association Scientific Sessions 2020, December 12. [13] The results demonstrated a 25% reduction of hs-CRP, a biomarker for inflammation. Most people with COVID-19 die, because of a cytokine storm, which causes an uncontrolled and excessive release of pro-inflammatory signaling molecules called cytokines. Two more COVID-19 studies are actually running with Vascepa to validate and proof further benefits. [14]

Patent disputes

On March 30, 2020, the designated patent judge, Judge Du in the U.S. District Court of Nevada, ruled for generic-drug makers Hikma Pharmaceuticals and Dr. Reddy's Laboratories in a lawsuit with Amarin over patents on Amarin's fish oil drug, Vascepa. [15] Soon after, on April 2, 2020, Amarin filed an appeal of the district court ruling [16] The appeal was lost and an en-banc was also not granted, afterwards. On November 30, three weeks after Hikma Pharmaceuticals started the distribution of their generic version of Vascepa, Amarin filed a complaint of patent infringement against Hikma. [17]

Finance

Amarin reported $429,80 million revenue in 2019 and expects 2020 revenue to be in the range of $650 million to $700 million.[18]

YearRevenue in mil. US$
201426,30
201554,20
201681,08
2017128,97
2018228,60
2019429,80
2020446,81 (first 9 months of 2020)

See also

References
  1. https://amarincorp.com/about_us.html
  2. https://investor.amarincorp.com/news-releases/news-release-details/amarin-reports-record-fourth-quarter-and-full-year-2019
  3. https://amarincorp.com/about_us.html
  4. "Amarin Announces FDA Approval of Vascepa(TM) (icosapent ethyl) Capsules for the Reduction of Triglyceride Levels in Adult Patients With Severe Hypertriglyceridemia". Archived from the original on 29 July 2012. Retrieved 26 July 2012.
  5. "Amarin Prescription Fish-Oil Pill Approved - TheStreet". Retrieved 26 July 2012.
  6. "FDA approves Amarin's heart pill". Reuters. 26 July 2012. Retrieved 27 July 2012.
  7. "SEC Filing | Amarin Corporation plc". investor.amarincorp.com. Retrieved 2021-01-12.
  8. "Simon Kukes Prefers Drugs to Oil". Kommersant. 25 January 2005. Archived from the original on 2016-09-30. Retrieved 1 October 2016.
  9. "Amarin Signs Agreement to Acquire Ester Neurosciences - Health News - redOrbit". RedOrbit. 5 December 2007. Retrieved 27 July 2012.
  10. "Amarin: Mover of the Day". CNBC. April 18, 2011. Archived from the original on 2011-09-07. Retrieved 26 July 2012.
  11. "FDA approves Vascpea for label expansion". FDA.
  12. "Clinical trials with VASCEPA®". U.S. National Library of Medicine.
  13. "Efficacy and Safety Results from Pilot Study Treating COVID-19 Infected Outpatients with Vascepa® (Icosapent Ethyl)".
  14. "Vascepa COVID-19 trials".
  15. "Judge's Record Looks Unpromising for Amarin's Appeal; Analyst Remains Bullish". Finance Yahoo.
  16. "Amarin's Appeal;". Amarincorp FAQ section.
  17. "COMPLAINT FOR PATENT INFRINGEMENT AND DEMAND FOR JURY TRIAL".
  18. "Amarin Reports Record Fourth Quarter and Full Year 2019 Financial Results and Provides Update on Operations". Amarin Corporation plc.
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