A practical reason for Amarin CEO taking the high road when speaking of the FDA.
While it's hard to deny that the FDA wasn't out to ambush Amarin at the FDA, and the event debated with various explanations for FDA actions and endlessly speculated, motivations questioned, BP influence theorized etc. etc.
But the reality that JT had to accept is that he cannot control the FDA and his ability to influence is very limited. As CEO he prime directive is to make it to Reduce Interim, ideally without dilution. JT can only control Amarin. It would extremely corrosive to employee morale and motivation to admit Amarin being the target of some FDA hidden agenda. Endorsing such a theory gives Amarin employees a license to fail, to view the future of Amarin as being controlled by a mysterious force.
These opinions are a cancer in a sales organization. The mission of the Amarin sales force has never been more critical and their successful execution is exactly where the recovery of your investment hinges.
For that reason I applaud the manner in which JT did not succumb to the trappings of speculative blame and avoided confrontational topics regarding the SPA, sNDA. His biggest challenge isn't the FDA. It's crossing the cash flow chasm and willing his people to get up early every morning, to pound the pavement with endless persistence visits to Docs. To scratch and claw for every script and build a book of business to carry them to the promised land of Reduce It.
We have the luxury of being spectators and arm chair quarterbacks, but when your employees read forums, social media blaming the FDA, it's easy to fall into believing you can't succeed and if that happens, Amarin is done.
I've had time to consider the latest CC and I applaud Thero for disposing of the "big bad FDA" and speaking of the need among patients for Vascepa and confidence of Reduce It.
Gone is the speak of holding Reduce It back upon Anchor sNDA CRL. The future of Amarin is now in the hands of those 150 reps who work tirelessly to protect your investment from dilution. It's as simple as that. I wish them well. It's a challenging environment or sell into. Insurance is clamping down, docs under pressure from regulation and reduced fees.
My 2 cents is this. There are some very bright people on this board but much of what we do here is massage our mental parts, sometimes less.
Perhaps there are ways to help Amarin cross the chasm, to increase scripts and improve the balance sheet. Aside from a (shocking) sNDA approval, I can't think of another more important, actionable recourse that investors can do to materially recoup your funds.
We all agree EPA is a terrific drug. We also agree very few people and physicians are aware of EPA's unique benefits.
EPADI was formed to influence the FDA to reinstate the SPA with well founded science and pleas for an indication to treat those at risk of CVD. That fight has been lost. The morale of EPADI members is low, most suffering desperate agony, and disbelief.
I'm not sure what role EPADI has going forward, and if one exists at all. Could the EPADI help educate the public, physicians and in doing so lubricate the sales process? Possibly. It would be a monumental effort and require funding beyond the occasional PR. And the question of long term commitment is an obstacle. Most of us have considerable money invested into Amarin but promoting EPA is hard work and why the giving our Amarin reps encouragement and appreciation to achieve script sales is the single largest contribution you can make.
Write to Amarin, let its reps know we have their backs, how much we appreciate their hard work. You may be very pleased how powerful such and endorsement can be. Encouragement turns into scripts. This is a pick and shovel job. It's tedious and highly incremental. Their success is now your success. There is no stronger alignment of goals: cross the chasm, get to interim without dilution. Thank god there is an existing $1B in O3 drug business to attack and draw from. It's there, thousands of patients still taking an inferior, more costly drug with serious SEs. Do them and yourself a favor. Help get them converted to Vascepa.
A simple email noting your appreciation can go a long way in encouraging a rep to make that extra meeting, not be discouraged, stay at Amarin knowing they are not alone in their fight.
Physicians are a different challenge although some have already discussed ideas to help them be more EPA educated. I don't have an easy answer. If there was one, scripts would be accelerating faster.
Vascepa is a powerful, unique molecule that is biologically active in multiple pathways and beneficial at the cellular that improves and protects almost every bodily function. I know I'm singing to the choir, but you own a drug what should be ramping at much higher rates. The headwinds are strong, the FDA will do what it pleases with the sNDA and we are powerless to change it. But you can do something to help Amarin improve scripts. I have already and been busy getting family members on Vascepa, coaching them how to secure a script, Many of you have done the same. Amarin needs more reps, more awareness, more resources to succeed. As incredible as it seems, BP is not interested. That changes when Reduce It proves efficacy in reducing risk. But until then you are dependent upon 150 reps working to protect your investment .
Forget the blaming FDA for our woes, and make excuses for failure. Instead take the higher road. Think what you can do to help your rep sell more Vascepa. That was the tone of the message as spoken by JT and it makes perfect sense to me.
