Amarin Corporation plc (AMRN) Presents at Goldman Sachs 44th Annual Global Healthcare Conference (Transcript)

Summary of Amarin Corporation Conference Call Company Overview - Company: Amarin Corporation plc (NASDAQ: AMRN) - Event: Goldman Sachs 44th Annual Global Healthcare Conference - Date: June 12, 2023 - Participants: Aaron Berg (Interim President and CEO), Tom Reilly (CFO), Paul Choi (Goldman Sachs) Key Points Company Performance and Strategy - The management team acknowledges that the company is not where it wants to be, particularly regarding share price and overall value creation [4] - Focus is on the U.S. business, which has maintained a 60% market share since the entry of generics, generating over $1 billion since the product went generic [4][21] - The company aims to drive profitability while managing cash carefully, having saved over$100 million in expenses, which is 30% of their cash base [9] Market Dynamics - The U.S. market has seen a return to pre-COVID patient visit levels, which is a positive sign for business recovery [11] - Physicians continue to prescribe the brand over generics, indicating strong brand loyalty despite the presence of generics [15] - The company has maintained managed care access, with significant improvements in copay structures, making their product more accessible compared to generics [23] International Expansion - The company is focusing on expanding its presence in Europe, particularly in the UK and Nordic countries, where they have launched their product [5][31] - Recent partnerships in Canada, the Middle East, Australia, New Zealand, and China are expected to drive revenue growth in these regions [6][32] - The company is actively negotiating pricing and reimbursement in several European countries, including Spain, Italy, and France [8] Clinical Insights and Product Development - VASCEPA is recognized for its unique mechanism of action, which goes beyond just lowering triglycerides to reducing cardiovascular events [38] - The company is exploring a potential VASCEPA-statin combination, with ongoing discussions with regulatory bodies [41] Future Outlook - The management emphasizes the need to build value by focusing on high-risk patient populations and efficient operational structures [48] - The company is open to business development opportunities that can enhance valuation while prioritizing current operational needs [46] Challenges and Considerations - The company faces challenges in pricing negotiations and market entry in Europe, which require careful management of cash flow and strategic planning [8][34] - There is a recognition of the need for continued learning and adaptation in both U.S. and European markets to improve performance [48] Additional Insights - The management team is committed to leveraging their learnings from past experiences to enhance their market position and drive future growth [48] - The unique characteristics of the generic market in the U.S. complicate pricing strategies, making it difficult to generalize across different countries [34] This summary encapsulates the key discussions and strategic directions outlined during the conference call, highlighting Amarin's focus on maintaining market share, expanding internationally, and navigating the complexities of the healthcare landscape.