Amarin Corporation is a biopharmaceutical company founded in 1993 and headquartered in Dublin, Ireland. The company develops and markets medicines for the treatment of cardiovascular disease. It has developed the drug Vascepa, a prescription grade omega-3 fatty acid. In July 2012, their lead-candidate drug named Vascepa received FDA-approval, competing against GlaxoSmithKline's Lovaza.
History
Amarin Corporation was founded in 1993 or 1999. In 2002, the company suffered losses worth $37 million; 2003 losses exceeded $19 million. As of 2005 it was developing neurology drugs. It developed Miraxion to treat serious hereditary neurodegenerative disease. In December 2007, Amarin acquired Ester Neurosciences Limited for US$8.1 million. 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.
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 as an adjunctive therapy to reduce the risk of cardiovascular events among adults with elevated triglyceride levels 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. Furthermore, VASCEPA® is in use in clinical trials by 3rd parties to see, if it has an effect on Alzheimer, Colon Cancer, Nonalcoholic Steatohepatitis and other diseases. 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. Soon after, on April 2, 2020, Amarin filed an appeal of the district court ruling
Finance
Amarin reported $429,80 million revenue in 2019 and expects 2020 revenue to be in the range of $650 million to $700 million.
