This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Amarin And Kowa Pharmaceuticals America, Inc. Announce U.S. Co-Promotion Agreement For Vascepa(R) (icosapent Ethyl) Capsules

Stocks in this article: AMRN

BEDMINSTER, N.J., DUBLIN, Ireland, and MONTGOMERY, Ala., March 31, 2014 (GLOBE NEWSWIRE) -- Amarin Corporation plc (Nasdaq:AMRN) and Kowa Pharmaceuticals America, Inc., two biopharmaceutical companies focused on the development and commercialization of therapeutics to improve cardiovascular health, today announced an agreement to co-promote Amarin's flagship product, Vascepa ® (icosapent ethyl) capsules, in the United States. Vascepa is approved for use in the United States as an adjunct to diet to reduce triglyceride levels in adult patients with severe (≥ 500 mg/dL) hypertriglyceridemia. In bringing together two companies focused on the primary care and cardiovascular health communities, the agreement is designed to benefit a greater number of patients.

Kowa Pharmaceuticals America, Inc. logo

The agreement provides for the near-term expansion of Vascepa promotional efforts through use of Kowa Pharmaceuticals America's sales force to substantially increase both the number of sales targets reached and the frequency of sales calls on existing sales targets. Under the agreement, Kowa Pharmaceuticals America will employ its sales force of approximately 250 sales representatives to co-promote Vascepa in the United States augmenting Amarin's approximately 130 sales representatives and more than doubling Amarin's current sales detail frequency through primary and secondary details. Kowa Pharmaceuticals America's sales force is expected to begin its Vascepa promotional efforts in May 2014 to its existing target audience of primary care physicians and cardiologists.  

Kowa Pharmaceuticals America has a successful track record of launching and commercializing drugs for the treatment of cardiovascular disease in the United States, including its flagship statin product, LIVALO ® (pitavastatin).  Kowa Pharmaceuticals America's sales team calls on many of the same physicians who are current and potential prescribers of Vascepa. The planned expansion in Vascepa promotional effort under the co-promotion agreement is expected to build on the significant base of progress Amarin has made and to help expand the use of Vascepa for patients in need.    

Under the agreement, Kowa Pharmaceuticals America will pay for certain incremental costs associated with the use of its sales force that are associated with the commercialization of Vascepa, such as sample costs and costs for promotional and marketing materials.   Each party has agreed to deliver specified minimal primary detail equivalents and spend specified minimal amounts on sample, promotional and marketing costs. Amarin's commitments under the agreement are within its commercialization plans prior to the agreement. Amarin will continue to control marketing of the product and recognize all revenue from sales of Vascepa. Amarin will compensate Kowa Pharmaceuticals America with a co-promotion fee based on a percentage of Vascepa gross margins that increase during the agreement's term, from the high single digits in 2014 to the low twenty percent levels in 2018, subject to certain adjustments. The initial term of the agreement extends through 2018. 

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs