Amarin Grants Recordati Exclusive Rights To Commercialize VAZKEPA Across 59 European Countries

(RTTNews) - Amarin Corporation (AMRN) has entered a long-term exclusive license and supply agreement with Italian pharmaceutical firm Recordati S.p.A. to commercialize VAZKEPA (icosapent ethyl) in 59 European countries.

The deal, aimed at expanding VAZKEPA's reach among cardiovascular patients, includes an upfront payment of $25 million, potential milestone payments up to $150 million based on annual net sales, and supply-based royalties.

Recordati will handle all commercialization responsibilities in Europe, leveraging its strong presence and cardiovascular expertise. Amarin will focus on optimizing its global operations, including a restructuring expected to save approximately $70 million over the next 12 months, primarily through cost reductions in its European operations.

Amarin's board chair, Dr. Odysseas Kostas, and CEO Aaron Berg emphasized the strategic value of the partnership in strengthening the company's financials and expanding global impact, particularly as VAZKEPA continues to demonstrate meaningful cardiovascular benefits when added to statin therapy.

Recordati's CEO Rob Koremans expressed enthusiasm about adding VAZKEPA to their specialty and primary care portfolio, highlighting its clinical data and potential to drive growth in cardiovascular care.

With nearly $300 million in cash, no debt, and ongoing revenue from global partnerships including the U.S., Canada, MENA, China, and Southeast Asia, Amarin is positioned to advance its growth strategy while enhancing shareholder value.

Tuesday, AMRN closed at $1.56, up 3.31%, and rose further after hours to $1.61, gaining an additional 3.21% on the NasdaqCM.