Pfizer (PFE) recently acquired an ontology company and could acquire Amarin (AMRN) next. Earlier this month, Pfizer entered into a promotional agreement to push Amarin’s Vascepa product in Canada and could be a sign that an acquisition is under way.
This week Amarin’s drug will be presented at ESC Congress on August 29 with results that it could help COVID patients with cardiac problems.
Amarin’s CEO and a 22-year veteran of Merck, said the company will launch sales of Vascepa next month in the European Union and plans to expand into Asia and Africa next year. The company also has added sales staff to battle generic drug makers for U.S. sales.
The company plans to increase profitability with overseas sales and fighting off U.S. generic competitors by pushing doctors to prescribe Vascepa to more vulnerable patients. Here in the U.S., it must do so by selling a drug that on average costs 77% more than generics.
J.P. Morgan analyst Jessica Fye still believes Vascepa will be successful, she said in investor notes, but sales will ramp up over 10 years.
This month, former Amarin CEO John Thero was succeeded by Mikhail, Merck’s former chief marketing officer in Europe and emerging markets. His appointment and the expansion of Amarin’s sales staff indicated the company plans to go it alone.