Amarin (NASDAQ:AMRN) is down 7% after hours on the heels of its announcement of preliminary 2018 results and 2019 forecast, information that will be presented next week at JPM19.
Vascepa (icosapent ethyl) sales in Q4 2018 were $72M – 76M, above consensus of $69.4M. 2018 sales were $224M – 228M, above consensus of $221.4M.
Its outlook for 2019 is ~$350M, below consensus of $417.5M. It does not expect managed care coverage to change much from last year.
The company plans to file a supplemental marketing application in the U.S. seeking approval for a cardioprotective claim for Vascepa this quarter. It does not expect the new indication, if approved, to impact its 2019 forecast.
It plans to spend an additional $50M – 75M this year to purchase additional inventory of product to support a revenue rate of ~$700M this year.
Salesforce now numbers 400, up from 150 last year.
#JPM19
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