Amarin Corporation

Last updated
Amarin Corporation
Company type Public
Nasdaq:  AMRN
Industry Biotechnology
Founded1993;31 years ago (1993)
Headquarters Dublin, Ireland
Bridgewater, New Jersey, US [1]
Key people
ProductsVascepa (AMR-101)
RevenueIncrease2.svg $614.1 Million (2020) [4]
Number of employees
~1000
Website www.amarincorp.com   OOjs UI icon edit-ltr-progressive.svg

Amarin Corporation is an Irish-American biopharmaceutical company founded in 1993 and headquartered in Dublin, Ireland and Bridgewater, New Jersey. [1] 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. [5]

Contents

In July 2012, their lead-candidate drug named Vascepa (AMR-101) received FDA-approval, [6] [7] competing against GlaxoSmithKline's Lovaza. [8]

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. [9] In 2002, the company suffered losses worth $37 million; 2003 losses exceeded $19 million. [10] As of 2005, it was developing neurology drugs. It developed Miraxion to treat serious hereditary neurodegenerative disease. [10]

In December 2007, Amarin acquired Ester Neurosciences Limited for US$8.1 million. [11] 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. [12]

Products and development

Vascepa (USA) / Vazkepa (EU)

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. [13]

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. [14]

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. [15] 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. [16]

On January 28, the Committee for Medicinal Products for Human Use gave a positive recommendation for Vazcepa (its name in the EU), which the European Commission finally approved on March 30.

Patent disputes

On March 30, 2020, the designated patent judge in the U.S. District Court for the District of Nevada, Miranda Du, ruled for generic-drug makers Hikma Pharmaceuticals and Dr. Reddy's Laboratories in a lawsuit with Amarin over patents on Amarin's drug, Vascepa. [17] Soon after, on April 2, 2020, Amarin filed an appeal of the ruling. [18] 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. [19] On February 11, 2021, Amarin filed a petition for certiorari with the US Supreme Court. On June 21, 2021, the petition was denied. [20]

Finance

YearRevenue in mil. US$
201426,30
201554,20
201681,08
2017128,97
2018228,60
2019429,80
2020614,10

See also

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References

  1. 1 2 "Company Profile". amarincorp.com. Archived from the original on 2021-06-30. Retrieved 2021-02-03.
  2. ↑ "OUR LEADERSHIP TEAM". 18 April 2023. Retrieved 2023-04-18.
  3. ↑ "Executive Committee". fiercepharma. Retrieved 18 April 2023.
  4. ↑ "Amarin Reports Fourth Quarter and Full Year 2020 Financial Results and Provides Business Update | Amarin Corporation plc". investor.amarincorp.com. Archived from the original on 2021-02-27. Retrieved 2021-03-20.
  5. ↑ "Amarin Corporation plc (NASDAQ: AMRN) Is One Stock You Should Watch – Marketing Sentinel". marketingsentinel.com. Retrieved 2022-07-09.
  6. ↑ "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.
  7. ↑ "Amarin Prescription Fish-Oil Pill Approved - TheStreet" . Retrieved 26 July 2012.
  8. ↑ "FDA approves Amarin's heart pill". Reuters. 26 July 2012. Retrieved 27 July 2012.
  9. ↑ "SEC Filing | Amarin Corporation plc". investor.amarincorp.com. Retrieved 2021-01-12.
  10. 1 2 "Simon Kukes Prefers Drugs to Oil". Kommersant. 25 January 2005. Archived from the original on 2016-09-30. Retrieved 1 October 2016.
  11. ↑ "Amarin Signs Agreement to Acquire Ester Neurosciences - Health News - redOrbit". RedOrbit. 5 December 2007. Retrieved 27 July 2012.
  12. ↑ "Amarin: Mover of the Day". CNBC. April 18, 2011. Archived from the original on 2011-09-07. Retrieved 26 July 2012.
  13. ↑ "FDA approves Vascpea for label expansion". FDA.
  14. ↑ "Clinical trials with VASCEPA®". U.S. National Library of Medicine.
  15. ↑ "HLS Therapeutics Reports Efficacy and Safety Results from Pilot Study Treating COVID-19 Infected Outpatients with Vascepa® (Icosapent Ethyl)".
  16. ↑ "Search of: vascepa | Covid19 - List Results - ClinicalTrials.gov". clinicaltrials.gov.
  17. ↑ "Judge's Record Looks Unpromising for Amarin's Appeal; Analyst Remains Bullish". Finance Yahoo.
  18. ↑ "Amarin's Appeal;". Amarincorp FAQ section.
  19. ↑ "COMPLAINT FOR PATENT INFRINGEMENT AND DEMAND FOR JURY TRIAL".
  20. ↑ "What is the status of the Amarin petition for certiorari filed on February 11, 2021, with the U.S. Supreme Court in connection with the VASCEPA® MARINE ANDA patent litigation?".
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