- Amarin Corp. plc (NASDAQ:AMRN) reported Q4 2020 results today that beat analyst expectations on both EPS and revenue.
- Revenue in the quarter was $167.3M, a 17% increase from the prior-year period, and a record for the company.
- The record revenue in the quarter was due to strong sales of Vascepa as prescriptions surged 18% quarter over quarter and 41% year over year.
- While a generic version of Vascepa launched in the U.S. in November 2020, Amarin said that it is approved only as an adjunct to diet for lowering triglycerides in patients with extremely high triglyceride levels.
- The company says this represents about 7% of Vascepa usage and "a smaller proportion of the overall market opportunity for" the drug.
- Amarin added that the "skinny label" of the generic represents no more than $40M of the company's net product revenue based on 2020 prescriptions.
- Amarin shares are down 0.3% to $7.28 in morning trading.