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Amarin's CEO Discusses Q2 2012 Results - Earnings Call Transcript

There have been numerous highlights for Amarin since our last quarterly report, most significantly, the recent approval of Vascepa as an adjunct to diet for the treatment of patients with severe hypertriglyceridemia. In addition, Amarin has made significant progress towards supporting the commercial exclusivity of Vascepa with seven patents in play, either issued, allowed or in progress states of prosecution with the USPTO. This in addition to the 25 patent applications that are currently on file with the USPTO.

We received an Intention to Grant letter for the MARINE method of use patent application in Europe as well. We continue to communicate the exciting Phase 3 clinical data from MARINE and ANCHOR trial to the scientific community and past quarter presented at the National Lipid Association, the American Diabetes Association Scientific Sessions and have the ANCHOR trial data published in the American Journal of Cardiology. And through effective cash management in Q2 and prior quarters ended June 30, 2012 with $250 million cash on hand.

Looking ahead, now that Vascepa is approved for the initial indication, Amarin is preparing to file a supplementary NDA, an sNDA for the high triglycerides mixed dyslipidemia indication studies in the ANCHOR Phase 3 trial. The sNDA can be filed when the Amarin’s cardiovascular outcomes study REDUCE-IT that’s substantially underway, which as previously stated, we expect to achieve in 2012.

Amarin continues to consider three potential paths for the marketing and sales of Vascepa: an acquisition of Amarin, a strategic collaboration, or self-commercialization, the latter of which could include third-party support. Until we enter into potential strategic transaction, Vascepa commercialization plans will continue to evolve. We believe that each of these paths can lead to success. We plan to continue evaluating the relative of origin-risk of these paths on a basis of what we believe creates the best value for our shareholders.

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