Amarin Corporation plc (AMRN) Cowen 43rd Annual Healthcare Conference (Transcript)

Summary of Amarin Corporation plc Conference Call Company Overview - Company: Amarin Corporation plc (NASDAQ:AMRN) - Event: Cowen 43rd Annual Healthcare Conference - Date: March 8, 2023 - Participants: Karim Mikhail (President and CEO), Georgi Yordanov (Cowen and Company) Key Points European Market Opportunity - The European market presents a significant opportunity with approximately 14 million statin-treated patients, similar to the U.S. market [3] - An estimated one-third of these patients have elevated triglycerides, and 20% have established cardiovascular disease (CVD), indicating millions of potential patients in Europe [3] Launch and Pricing Strategy - The launch process in Europe differs from the U.S., taking around two years for pricing and reimbursement negotiations [5] - Once pricing is established, there is open access to the patient population, which is critical for product value [6] - The company has completed pricing negotiations in 10 countries by the end of 2022, with 5 countries approved for launch, including the U.K., Sweden, Finland, Austria, and Denmark [13] Revenue Expectations - The U.K. is expected to contribute more than 50% of the revenue in 2023, as it will have a full year of revenue compared to other markets [18] - The pricing in the five launched markets is around €5 to €5.3 per day, equating to nearly $2,000 annually [13] Challenges in Germany - Germany poses a challenge due to budgetary constraints and a healthcare deficit, making it difficult to negotiate reimbursement [11] - The company plans to revisit the German market after establishing a presence in other European countries [40] Formularies and Prescribing - Amarin has achieved formulary access in 19 out of the top 20 accounts, covering 50% of the eligible patient population within three months of launch [24] - The U.K. has no restrictions on prescribers, allowing for broader access compared to countries like Italy, which restricts prescriptions to specialists initially [28] Future Growth and Partnerships - Amarin is exploring partnerships in Southeast Asia and Eastern Europe, with significant potential for revenue outside the U.S. and Europe [43] - The company is also pursuing fixed-dose combination strategies to enhance market penetration and lifecycle management [47] Overall Market Potential - The ex-U.S. revenue potential is significant, with the possibility of matching U.S. revenue levels over time [44] - The company is cautious about providing specific revenue guidance until major markets are negotiated [36] Conclusion - Amarin is focused on establishing a strong presence in Europe, navigating the complexities of pricing and reimbursement, and leveraging partnerships to maximize market potential. The company remains optimistic about its growth trajectory despite the challenges faced in specific markets like Germany.