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Amarin (AMRN) Up 7% on Intellectual Property Wins in Europe
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Shares of Amarin Corporation (AMRN - Free Report) rose 7.1% on Wednesday after management announced positive updates on its intellectual property portfolio for its sole marketed drug, Vazkepa, in Europe.
Amarin obtained a new patent covering Vazkepa from the European Patent Office (EPO). The latest patent adds another eight years to the drug’s regulatory exclusivity in Europe, extending the commercial protection across the continent till April 2039.
Along with the above news, management succeeded in defending another one of Vazkepa’s already-granted patents in Europe against third-party opposition. The EPO upheld the validity of this patent.
The claims covered by both of these patents are supported by results from the pivotal late-stage REDUCE-IT study, which showed that treatment with Vazkepa reduced cardiovascular (CV) death and coronary revascularization risks. The grant of such patent exclusivities is key for companies in the healthcare sector, who can utilize the opportunity to set the price for their drugs, benefiting from the absence of competition. The share price rose likely due to this reason.
Year to date, Amarin’s shares have gained 21.8% compared with the industry’s 1.9% rise.
Image Source: Zacks Investment Research
Vazkepa is approved in Europe to reduce the risk of CV events, such as heart attack, stroke and other problems caused by blocked blood circulation. It is also approved for use as an add-on treatment in adults being treated with a statin medicine who have high levels of triglycerides (TG) in their blood. The approval for both these indications was granted in 2021.
Vazkepa has already been approved by the FDA in similar indications and is marketed under the trade name Vascepa. The drug has been facing generic erosion in the TG indication in the United States since 2020. Multiple generic drugmakers like Hikma Pharmaceuticals, Dr. Reddy’s and Apotex have already launched generic drugs.
The rise in generic competition led to a 22% decline in the drug’s sales of Vascepa last year. Amarin is also unable to ascertain the impact of this generic competition going forward. As a result, management has not provided any revenue guidance for 2024.
Amarin’s potential failure to create sufficient awareness for Vascepa’s CV risk reduction indication may induce further erosion of the drug’s sales going forward, which is a major concern.
In the past 60 days, estimates for ADMA Biologics’ 2024 earnings per share (EPS) have risen from 22 cents to 30 cents. During the same period, EPS estimates for 2025 have improved from 32 cents to 50 cents. Year to date, shares of ADMA have surged 40.5%.
Earnings of ADMA Biologics beat estimates in three of the last four quarters while meeting the same on one occasion. ADMA delivered a four-quarter average earnings surprise of 85.00%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 EPS have risen from $4.06 to $4.43. Meanwhile, during the same period, EPS estimates for 2025 have improved from $4.80 to $5.04. Year to date, shares of ANIP have risen 21.9%.
Earnings of ANI Pharmaceuticals beat estimates in each of the last four quarters. ANI delivered a four-quarter average earnings surprise of 109.06%.
In the past 60 days, Ligand Pharmaceuticals’ earnings estimates per share for 2024 have increased from $4.42 to $4.56. During the same period, earnings estimates for 2025 have risen from $5.11 to $5.20. Year to date, shares of Ligand Pharmaceuticals have gained 4.6%.
Ligand Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters. On average, LGND’s four-quarter earnings surprise was 84.81%.
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Amarin (AMRN) Up 7% on Intellectual Property Wins in Europe
Shares of Amarin Corporation (AMRN - Free Report) rose 7.1% on Wednesday after management announced positive updates on its intellectual property portfolio for its sole marketed drug, Vazkepa, in Europe.
Amarin obtained a new patent covering Vazkepa from the European Patent Office (EPO). The latest patent adds another eight years to the drug’s regulatory exclusivity in Europe, extending the commercial protection across the continent till April 2039.
Along with the above news, management succeeded in defending another one of Vazkepa’s already-granted patents in Europe against third-party opposition. The EPO upheld the validity of this patent.
The claims covered by both of these patents are supported by results from the pivotal late-stage REDUCE-IT study, which showed that treatment with Vazkepa reduced cardiovascular (CV) death and coronary revascularization risks. The grant of such patent exclusivities is key for companies in the healthcare sector, who can utilize the opportunity to set the price for their drugs, benefiting from the absence of competition. The share price rose likely due to this reason.
Year to date, Amarin’s shares have gained 21.8% compared with the industry’s 1.9% rise.
Image Source: Zacks Investment Research
Vazkepa is approved in Europe to reduce the risk of CV events, such as heart attack, stroke and other problems caused by blocked blood circulation. It is also approved for use as an add-on treatment in adults being treated with a statin medicine who have high levels of triglycerides (TG) in their blood. The approval for both these indications was granted in 2021.
Vazkepa has already been approved by the FDA in similar indications and is marketed under the trade name Vascepa. The drug has been facing generic erosion in the TG indication in the United States since 2020. Multiple generic drugmakers like Hikma Pharmaceuticals, Dr. Reddy’s and Apotex have already launched generic drugs.
The rise in generic competition led to a 22% decline in the drug’s sales of Vascepa last year. Amarin is also unable to ascertain the impact of this generic competition going forward. As a result, management has not provided any revenue guidance for 2024.
Amarin’s potential failure to create sufficient awareness for Vascepa’s CV risk reduction indication may induce further erosion of the drug’s sales going forward, which is a major concern.
Amarin Corporation PLC Price
Amarin Corporation PLC price | Amarin Corporation PLC Quote
Zacks Rank & Other Key Picks
Amarin currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the overall healthcare sector include ADMA Biologics (ADMA - Free Report) , ANI Pharmaceuticals (ANIP - Free Report) and Ligand Pharmaceuticals (LGND - Free Report) ,each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for ADMA Biologics’ 2024 earnings per share (EPS) have risen from 22 cents to 30 cents. During the same period, EPS estimates for 2025 have improved from 32 cents to 50 cents. Year to date, shares of ADMA have surged 40.5%.
Earnings of ADMA Biologics beat estimates in three of the last four quarters while meeting the same on one occasion. ADMA delivered a four-quarter average earnings surprise of 85.00%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 EPS have risen from $4.06 to $4.43. Meanwhile, during the same period, EPS estimates for 2025 have improved from $4.80 to $5.04. Year to date, shares of ANIP have risen 21.9%.
Earnings of ANI Pharmaceuticals beat estimates in each of the last four quarters. ANI delivered a four-quarter average earnings surprise of 109.06%.
In the past 60 days, Ligand Pharmaceuticals’ earnings estimates per share for 2024 have increased from $4.42 to $4.56. During the same period, earnings estimates for 2025 have risen from $5.11 to $5.20. Year to date, shares of Ligand Pharmaceuticals have gained 4.6%.
Ligand Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters. On average, LGND’s four-quarter earnings surprise was 84.81%.