The press release also notes the extension of VAZKEPA's intellectual property in Europe until 2039, securing its market exclusivity against competitive entry. For deeper insights into Amarin (NASDAQ:AMRN)'s financial health, market position, and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro's detailed research reports, which transform complex Wall Street data into actionable intelligence. For deeper insights into Amarin's financial health, market position, and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro's detailed research reports, which transform complex Wall Street data into actionable intelligence.
Cardiovascular disease is the leading cause of death and hospitalization in Italy, with significant annual mortality and hospitalization rates due to myocardial infarction. Given that one in five cardiovascular patients in Italy experience a subsequent event within a year, the need for effective treatments is pressing.
Dr. Aldo Pietro Maggioni from the Italian Association of Hospital Cardiologists emphasized the clinical need addressed by VAZKEPA's reimbursement, noting its proven efficacy in reducing cardiovascular death and recurrent events in the REDUCE-IT study.
The press release also notes the extension of VAZKEPA's intellectual property in Europe until 2039, securing its market exclusivity against competitive entry. For deeper insights into Amarin's financial health, market position, and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro's detailed research reports, which transform complex Wall Street data into actionable intelligence.
Amarin's President & CEO, Aaron Berg, reflected on the significance of the Italian approval for both the company and patients, highlighting the strong clinical data backing VAZKEPA and its potential impact across Italy.
Amarin, a pharmaceutical company with a focus on cardiovascular disease management, has offices in the United States, Ireland, Switzerland, and other European countries, with commercial partnerships worldwide. The company has emphasized its commitment to patient access to VAZKEPA globally, backed by over 50 medical society endorsements and approval in 46 countries for cardiovascular risk reduction.
The press release also notes the extension of VAZKEPA's intellectual property in Europe until 2039, securing its market exclusivity against competitive entry.
This news is based on a press release statement from Amarin Corporation plc.
In other recent news, biopharmaceutical company Amarin Corporation has seen significant developments. Peter Fishman has been appointed as the new Chief Financial Officer, bringing nearly two decades of finance experience to lead the global finance organization. In addition, Amarin has been granted an extension by Nasdaq to meet the exchange's minimum bid price requirement, reflecting the company's ongoing efforts to maintain its standing on the stock exchange.
Amarin's third-quarter revenue for 2024 reported a decrease due to increased competition from generic drugs in the U.S. market, with the total net revenue dropping to $42.3 million from the previous year's $66.1 million. Despite this, the company maintains a robust market share, focusing on expanding access to its cardiovascular disease treatment, particularly in the European market.
The company's financial position remains stable with $306 million in cash and investments. Furthermore, Amarin is actively pursuing partnerships to bolster international growth. These recent developments highlight the company's strategic efforts to navigate the competitive landscape.
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