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Amarin Corporation plc (AMRN) CEO John Thero Presents at Citi's 2018 Global Healthcare Conference (Transcript)

Dec. 05, 2018 8:55 PM ETAmarin Corporation plc (AMRN)21 Comments
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Amarin Corporation plc (NASDAQ:AMRN) Citi’s 2018 Global Healthcare Conference December 5, 2018 2:10 PM ET


John Thero - President and Chief Executive Officer


Joel Beatty - Citigroup

Joel Beatty

I'm Joel Beatty, one of Citi’s biotech analysts. Thanks very much for joining us today. up with me, I have John Thero, CEO of Amarin. John, thank you very much for joining us. Maybe could you begin by just giving a brief overview of Amarin and tell us what you're excited about in the future.

John Thero

Sure. That makes sense. Just before I start, I will be making forward-looking statements. There are risk involved. Anybody considering investing ought to review our risk factors as described in our SEC filings.

So, Amarin has been pioneering over the last decade an advanced preventative cardiovascular care which we think could – and the PI for the studies just spoke about it being the most significant breakthrough in preventative cardiovascular care in the last 30 years.

So, we just completed a very large global outcome study. That outcome study shows that our drug, on top of controlled cholesterol, so statin-treated patients, resulted in a reduction of an additional 25% and we did that with a good positive tolerability sort of comparable to placebo. So, we’re now getting ready to file for label expansion with the FDA, while in parallel expanding our US commercial footprint, while relying on partners internationally.

Joel Beatty

Okay. As you mentioned, you’ve recently presented the REDUCE-IT results last month at AHA with a 25% benefit on the primary endpoint. Can you tell us a little bit more about the results? There was a lot presented at AHA.

John Thero

Yeah. So, it’s a very important study. And just to take a half a step back, I think people know that cardiovascular disease

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Comments (21)


“Love the people who knock Vascepa”

I’m not really knocking Vascepa, just making inquiries and due diligence comparisons and figuring out how it fits in with my insurance.

Maybe the AMRN CEO could be helpful and give advice what to do when the PBM turns down your precertification request.

Your other useless comments are full of assumptions and do not seem to be of a problem solving nature.
tobingj profile picture
Sorry - only saw this- I was agreeing with comments by steve_c rather than trying to answer your queries.
I am in Europe so no clue how to answer them. Not in our market at all. We would have a different medical system too. Good luck getting your prescription.
My points were more that this will be blockbuster due to human nature and the way society is set. Sit on couch watching Netflix eating rubbish and take a pill rather than eat rabbit food and outdoor activities (in theory - no pill).
Negative balanced comparison above not aimed at you. Just the general population. What is the price people put on sitting on the couching deluding themselves they don't have to be healthy. :(

I’m going to agree with you and go with Vascepa. It’s pointless buying a drug that doesn’t work & a proven side effect like Lovasa just to make a PBM happy.
I have an HSA, 3k deductible. I’m on a statin. Will insurance pay for it in some part as a preventative RX?

Will I get 100% credit to my deductible for any payments I make ?

Price quotes I getting for Vascepa (with high deductible insurance) is in the $200-$300 per month range. For comparison, they will give me generic Lovasa for $90 a month.

Also what about Flex FSA accounts ? Any problems getting reimbursement for any payments I make ?

" For comparison, they will give me generic Lovasa for $90 a month."

You do realise that will raise your LDL numbers, don't you? That's a bit penny foolish IMO.

This is your life you're weighing on a cost scale.
tobingj profile picture
It is even cheaper to eat healthy and do some exercise.

Love the people who knock Vascepa- at the end of the day though a pill is simpler than being proactive about health. Hence I bought stock here back in 2007. :)
sts66 profile picture
JT has some bad info about Medicare coverage - it's nowhere close to 80% on T2, more like the reverse, only 20% - some plans don't cover it at all, most others have it on T4.
notnil profile picture
Amazes me how Thero knows his stuff upside down n sideways.His overall knowledge n ability to discuss thoroughly is impressive.
Biggest take away for me, since we've heard all the benefits of Vascepa before is that the offering was over subscribed!
fully agree.

"we did raise $200 million that was added to roughly $81 million that we began the quarter with... with those funds, it provides Amarin with a runway under most scenarios to get to cash flow positivity.

It was a relatively small deal, given our market cap. I'm told by the bankers that it was oversubscribed in about an hour."
@nick name I need a break from the markets so badly. After losing almost every cent. I sold March $11/7 put spread today for 70 cents. I don't think there is any way this should go as low as $11 given they just were able to do a large offering.

Do we know what the offering price was? If it closed over $17, I'm happy because I would think this will not hit $11 any time soon.
OK offering at 17.50+ after fees. Great! I suppose I should be happy to be able to buy at $11 from the March $11 puts I sold. Actually, $10, premium was a dollar before commission
No discussion on the impact of the release of data on # of scripts issues. Have they seen substantial growth with physicians issuing new scripts?

Weekly Scripts have increased significantly since the results were posted.
Go to stocktwits.com/... on Fridays, Sam81 posts the numbers every week. Below are the numbers posted before release and after. TRx is total Scripts NRx are new Scripts
Nov 23
TRx: 32,548{vs 31,811;+2.32%}Sec+1.06% ATH NRx: 13,953{vs 12,918;+8.01%}Sec+3.99% ATH Ref: 18,595{vs 18,893;-1.58%}Sec-0.92% 2nd ATH
SEP 21
TRx:28,934{vs 27,072;+6.88%}Sec+5.92% ATH NRx:11,317{vs 10,167;+11.31%}Sec+10.70% ATH Ref:17,617{vs 16,905;+4.21%}Sec+2.96% ATH
Thank you retlaw59 appreciate it.
for freedom profile picture
I'm long amarin, but to say that fish oil doesn't work is funny, if it didn't work why would they create a drug isolated from it.
hopefully you are kidding? Insulin used to be derived from pigs. With your reasoning, eating bacon would reduce your blood suger...
Because Amarin realized a long time ago that pure EPA was the key, DHA raises LDL and does not reduce MACE whatsoever.
Good to read without all the charts , scales and graphs .To a small time investor this was easy to understand, plus I just let it ride and hope the long run isn't to far away as I'm 80 now and extremely healthy ,mentally and physically.
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