Amarin Corporation plc (AMRN) Bundle
A Brief History of Amarin Corporation plc (AMRN)
Founding and Early Years
Amarin Corporation plc was founded in 1989 in the United States, initially focusing on developing innovative therapies for patients with cardiovascular diseases. It became publicly traded in 1993.
Acquisition of Vascepa
In 2012, Amarin acquired the rights to Vascepa (icosapent ethyl), a prescription medication derived from omega-3 fatty acids, by purchasing the assets of the failing biotechnology firm, Eicosan Technologies. The acquisition price was approximately $50 million.
Vascepa Clinical Trials
Amarin conducted pivotal Phase 3 clinical trials for Vascepa, known as the ANCHOR and MARINE studies. The results revealed that Vascepa significantly reduced triglyceride levels in patients with high triglycerides and established its efficacy in reducing cardiovascular events.
FDA Approval and Market Launch
Vascepa received FDA approval on July 26, 2012, for use in conjunction with a reduced-calorie diet and exercise to lower triglyceride levels in adults with severe hypertriglyceridemia.
Financial Performance
In 2019, Amarin reported total revenue of approximately $380.0 million, primarily driven by Vascepa sales. For Q3 2020, the revenue was about $102.2 million, an increase of 38% compared to the same period in the previous year.
Vascepa's Label Expansion
On December 13, 2019, the FDA approved Vascepa for an expanded indication to reduce the risk of cardiovascular events in high-risk patients. The approval was based on the results of the REDUCE-IT study, which enrolled over 8,000 patients and demonstrated that Vascepa reduced major cardiovascular events by 25%.
Global Expansion and Pricing Strategy
As of late 2020, Amarin began launching Vascepa in international markets. The global pricing strategy estimated the annual cost of Vascepa to be between $1,600 and $2,000 per patient, depending on regional healthcare systems.
Recent Developments and Stock Performance
By Q2 2021, Amarin projected full-year revenues to be in the range of $500 million to $520 million. As of October 2021, the share price of AMRN was trading around $4.00, with a market capitalization of approximately $1.45 billion.
| Year | Revenue ($ million) | FDA Approval | Vascepa Expansion |
|---|---|---|---|
| 2012 | 0.5 | Approved for severe hypertriglyceridemia | None |
| 2019 | 380.0 | None | FDA expanded indication |
| 2020 | 102.2 (Q3) | None | International market launch |
| 2021 | 500-520 (projected) | None | Continued expansion |
Acquisitions and Partnerships
In 2020, Amarin entered into a partnership with a European pharmaceutical company to enhance the commercialization and distribution of Vascepa in Europe.
Legal Challenges
Amarin faced litigation in 2020 from generic drug manufacturers aiming to produce biosimilars of Vascepa. The company actively defended its patent portfolio, with several lawsuits leading to favorable rulings.
Research and Development Initiatives
Amarin continues to invest in R&D, with a focus on clinical trials for new indications of Vascepa, targeting areas like diabetes and non-alcoholic fatty liver disease.
Market Outlook
The consensus among analysts for Amarin's stock in 2021 indicated a potential price target range of $8.00 to $12.00, driven by expected growth in Vascepa sales and continued market expansion.
A Who Owns Amarin Corporation plc (AMRN)
Overview of Ownership Structure
As of the most recent data available in 2023, the ownership structure of Amarin Corporation plc (AMRN) is characterized by various institutional investors, retail shareholders, and company insiders. Understanding these ownership dynamics is crucial for analyzing the company's strategic decisions and market movements.
Institutional Ownership
Institutional investors play a significant role in the ownership of Amarin Corporation. Below is a table detailing the major institutional shareholders along with their ownership percentages as of the end of Q3 2023.
| Institution | Percentage Owned (%) | Shares Held | Market Value (USD) |
|---|---|---|---|
| The Vanguard Group, Inc. | 8.45 | 15,601,762 | 43,123,000 |
| BlackRock, Inc. | 8.12 | 15,234,980 | 42,000,000 |
| State Street Corporation | 5.67 | 10,483,200 | 29,000,000 |
| Dimensional Fund Advisors LP | 3.89 | 7,228,104 | 20,000,000 |
| Invesco Ltd. | 3.15 | 5,836,105 | 16,000,000 |
Retail Ownership
Retail investors also hold a significant portion of Amarin's stock. As of late 2023, retail ownership is estimated to account for approximately 25% of the total shares outstanding.
Insider Ownership
Insiders of Amarin Corporation, including executive officers and board members, have shown a commitment to the company through their ownership stakes. The following table lists key insiders along with their ownership details.
| Insider Name | Position | Shares Owned | Percentage Owned (%) |
|---|---|---|---|
| John Thero | President & CEO | 1,200,000 | 0.65 |
| R. Michael Cloonan | Chief Financial Officer | 500,000 | 0.27 |
| Hugh O'Neill | Executive VP | 300,000 | 0.16 |
| Board Member | N/A | 200,000 | 0.11 |
Market Capitalization and Share Price
The market capitalization of Amarin Corporation plc as of October 2023 is approximately $516 million. The stock price has fluctuated, with a recent price point around $1.75 per share.
Recent Shareholder Changes
In the past year, there have been significant changes in shareholder composition, including increased acquisition by institutional investors as they reposition portfolios.
- Increased holdings by The Vanguard Group by 1.5% in Q3 2023.
- BlackRock slightly reduced its stake by 0.3% during the same period.
- Notable retail trading spikes in response to FDA news on product approvals.
Amarin Corporation plc (AMRN) Mission Statement
Core Mission Statement
The mission of Amarin Corporation plc is to enhance patient care through the development of innovative therapeutics designed to improve cardiovascular health. Amarin is dedicated to advancing treatment options for patients at risk of cardiovascular disease.
Focus on Innovation
Amarin’s commitment to innovation is underscored by its development of Vascepa® (icosapent ethyl), which is aimed at reducing cardiovascular risk in patients with elevated triglyceride levels. The company continues to invest in research to explore additional therapeutic benefits.
Financial Overview
| Financial Metric | 2022 Amount (in USD) | 2021 Amount (in USD) | 2020 Amount (in USD) |
|---|---|---|---|
| Revenue | $380.6 million | $315.4 million | $202.5 million |
| Net Income | $60.7 million | $47.1 million | $(64.3 million) |
| R&D Expenses | $34.9 million | $34.1 million | $24.8 million |
| Total Assets | $474.5 million | $370.2 million | $283.0 million |
| Total Liabilities | $146.3 million | $118.4 million | $114.7 million |
Strategic Goals
- Expand Market Access: Increase patient access to Vascepa® through strategic partnerships and market penetration.
- Maximize Product Potential: Conduct additional studies to support label expansion and enhance clinical understanding.
- Maintain Financial Health: Focus on profitability and sustainable growth while managing expenses effectively.
Commitment to Patients
Amarin's dedication to cardiovascular health reflects in its ongoing efforts to support patients and healthcare providers through education and accessible therapeutic options. The patient-centric approach is vital to Amarin's operational philosophy.
Recent Developments
As of Q3 2023, Amarin has reported significant progress in expanding its market capabilities and increasing its patient base. The company has achieved a market share of approximately 50% in the US for omega-3 prescription products.
Corporate Responsibility
Amarin Corporation is committed to ethical practices in both clinical trials and marketing. The company adheres to regulations and guidelines set forth by governmental bodies to ensure patient safety and product efficacy.
How Amarin Corporation plc (AMRN) Works
Company Overview
Amarin Corporation plc is a biopharmaceutical company focused on developing and commercializing innovative therapeutics to improve cardiovascular health. The company's primary product is Epanova, an omega-3 fatty acid capsule indicated for the treatment of high triglyceride levels.
Products and Pipeline
The core product offering includes:
- Epanova (omega-3-carboxylic acid)
- Development-stage product: AMR101 (icosapent ethyl)
As of October 2023, Amarin has also initiated clinical trials for other potential indications targeting cardiovascular diseases.
Financial Overview
For the fiscal year 2022, Amarin reported total revenue of $283 million, primarily from Epanova sales. The gross profit was approximately $190 million. The operating loss for the same period stood at $120 million.
Stock Performance
As of October 2023, the stock price of Amarin Corporation (AMRN) is approximately $0.87 per share. The market capitalization is around $284 million.
Income Statement Snapshot
| Item | 2022 |
|---|---|
| Total Revenue | $283 million |
| Cost of Goods Sold | $93 million |
| Gross Profit | $190 million |
| Operating Expenses | $310 million |
| Operating Loss | $(120) million |
| Net Loss | $(130) million |
Research and Development
For the year 2022, Amarin invested approximately $70 million in research and development activities. The focus areas include:
- Investigation of new therapeutic uses for Epanova
- Exploration of combination therapies with existing cardiovascular drugs
Market Positioning
As of 2022, Amarin holds a significant share of the market for prescription omega-3 fatty acids, competing against other products such as:
- Vascepa (Amgen)
- Lovaza (GlaxoSmithKline)
Recent Developments
In September 2023, Amarin received FDA approval for a new indication of Epanova, which is expected to drive sales significantly. Analysts project a revenue increase of approximately 25% in 2024.
Balance Sheet Overview
| Item | As of Q2 2023 |
|---|---|
| Total Assets | $420 million |
| Total Liabilities | $150 million |
| Shareholders' Equity | $270 million |
Collaboration Agreements
Amarin has established collaborative agreements with several pharmaceutical companies to enhance its research capabilities and market reach. Key partnerships include:
- Collaboration with Amgen for cardiovascular drug research
- Agreement with other biotech firms for R&D in metabolic disorders
Market Challenges
Amarin faces certain challenges including:
- Increasing competition from generic drugs
- Regulatory hurdles in new drug approvals
- Market fluctuations impacting pricing strategies
How Amarin Corporation plc (AMRN) Makes Money
Revenue Streams
Amarin Corporation primarily generates revenue through the sales of its flagship product, Vascepa (icosapent ethyl), which is indicated for the treatment of patients with high triglyceride levels. The company also explores additional indications to enhance its revenue streams.
Sales of Vascepa
Vascepa was approved by the U.S. Food and Drug Administration (FDA) in 2012 and has since become a significant contributor to Amarin's revenue. In 2022, the net revenue from Vascepa sales was approximately $645 million.
| Year | Vascepa Revenue | Growth Rate |
|---|---|---|
| 2019 | $227 million | - |
| 2020 | $413 million | 82% |
| 2021 | $514 million | 24% |
| 2022 | $645 million | 25% |
Market Expansion
Amarin has focused on expanding the market for Vascepa, targeting both the United States and international markets. The company has obtained marketing authorization in several countries, including those in Europe and Canada, which further contributes to revenue growth.
Partnerships and Collaborations
Amarin has established partnerships with various pharmaceutical companies to enhance distribution and marketing efforts. These collaborations often involve shared revenues or milestone payments, which significantly bolster financial performance.
Other Revenue Sources
Aside from Vascepa sales, Amarin is also involved in research and development initiatives aimed at discovering new therapeutic indications for its compounds. These initiatives may lead to potential licensing agreements or milestone payments from larger pharmaceutical partners.
Financial Performance Metrics
| Metric | 2020 | 2021 | 2022 |
|---|---|---|---|
| Total Revenue | $413 million | $514 million | $645 million |
| Net Income (Loss) | ($199 million) | ($152 million) | ($186 million) |
| Research and Development Expenses | $90 million | $96 million | $115 million |
| General and Administrative Expenses | $119 million | $104 million | $133 million |
Growth Strategies
- Increasing Physician Awareness: Amarin continuously invests in promotional activities to enhance awareness about Vascepa among healthcare professionals.
- Expanding Clinical Indications: Ongoing clinical trials aim to support additional indications for Vascepa, which could lead to increased patient populations and sales.
- International Market Penetration: The company is actively pursuing regulatory approvals in international markets, which will provide additional revenue opportunities.
Projected Financial Outlook
Analysts have varying estimates on Amarin's future revenue. By 2025, projected revenues from Vascepa sales in the U.S. are estimated to reach between $800 million and $1 billion depending on market penetration and new approvals.
Amarin Corporation plc (AMRN) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support