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I'm don't believe it would be insider trading. They have stated for some months that they were pushing for share BB. No movement to the SP. I don't see why just knowledge of a pending approval (which everyone expects to happen) would be considered insider trading. JMO
I'm agree with the UK approval of share buyback and as for the appeal, we can only stick with the positive tones from the 3 judges, however, even at that, it is not a guarantee.
But, we do need both of these to occur quickly to begin some positive movement of the sp.
Cantor was named as being the company that will acquire the shares for Amarin and then move them to Amarin. Not sure if any of the initial purchases have been made prior to the UK approval for Amarin to use on hand capital for those shares.
They could be saving it for the ER to buffer any negative tones re. revenue, etc.
Thanks for reaching out to Amarin IR. I am a little concerned that IR would respond as you stated regarding the 7% and 93% for CVE.
Can you please let us know what statements you are referring to regarding the 93% market share? Obviously we are at a different time period at this point, so those statements are likely outdated.
I would think that Amarin is very much aware of what the market is for V for CVE and the market for trigs >500. If they are not, we are in deep sh.t!
Thanks Capt for the succint overview of the history and then the benefits of Vascepa. Some day soon hopefully the doctors will catch on and V will begin an upward direction for sales.
Like you continue to say, "It's the EPA Stupid!"
Several variables but curently if memory serves me, I think Sarissa owns or controls approximately 33M shares.
Kind of interesting in the packaging. Amarin is the only buyer that receives product in a refrigerated container at 20 degrees C. I suppose that would help preserve the icosapent ethyl during shipping.
And I can wrap my head around your comments regarding Amarin not advertising but the old adage is true. A rising tide lifts all ships. And I am not suggesting they begin advertising today as I have no facts as to what they may be doing behind the scenes regarding a new formulation, etc., but it is worthwhile to note that if they can prevail in their Hikma suit, then damages could be treble which would increase Hikma and other G's exposure.
I do like the buyback at today's low prices. Then some good news needs to begin hitting the streets, especially WS and drive SP up towards a reasonable BO.
I am not familiar with the prior CVS / Centene agreement but that has changed as of 2024. Now Express Scripts has that contract and again I am not sure our relationship with Express Scripts is and how that may impact Amarin. I just put this out for any comment as I do not know how / who establishes the formularies and wondered if the HealthNet settlement had anything to do with possibly expanding an opportunity through Centene. FWIW
Centene has tapped Express Scripts as its pharmacy benefit manager of the future, making for one of the largest contract swaps in recent years.
Express Scripts will manage pharmacy benefits for 20 million Centene members beginning in 2024 in a contract valued at more than $35 billion. Chief financial officer Drew Asher said on the company's earnings call Tuesday that the insurer accounted for plus or minus $40 billion in gross pharmacy spend, almost all of which was previously managed by CVS Health's Caremark.
Jas, I guess they were happy to pay the $25M compensation based on the spectacular 2023 performance.
Revenue Increase US$154 billion (2023)
Operating income Increase US$2.93 billion (2023)
Net income Increase US$2.70 billion (2023)
Total assets Increase US$84.6 billion (2023)
Total equity Increase US$25.9 billion (2023)
Thanks NS.
Centene is HealthNet's parent and is #25 on Fortune 500 Companies.
Centene Corporation
Managed care company
centene.com
Centene Corporation is a publicly traded managed care company based in St. Louis, Missouri, which is an intermediary for government-sponsored and privately insured healthcare programs. Centene ranked No. 25 on the 2023 Fortune 500. Wikipedia
Stock price: CNC (NYSE) $72.78 +0.73 (+1.01%)
Apr 5, 4:00?PM EDT - Disclaimer
CEO: Sarah M. London (Mar 22, 2022–)
CFO: Andrew Asher
CIO: Brian LeClaire
CMO: Suzy DePrizio
COO: James E Murray
President: Kenneth Fasola
Subsidiaries: WellCare Health Plans, Health Net, Fidelis
Thanks Lizzy. But didn't Holt say they would work to gain approval and begin the first buybacks before the end of Q2?
If I recall correctly, Holt said that once approved, etc. the BB should begin toward end of Q2. It was not an immediate one time $50M buyback but could occur in multiple BB prior to year end.
I do not know, however, based on law, they cannot buyback stock except with company profits. They will utilize 'capital' (cash) and then Cantor will purchase the shares. It will be then transferred over to Amarin by use of the capital. That's my take.
We just need several things to come together over the next 3-6 months.
More positive news on the Hikma case
Extending EU patents till 2039
Improving EU sales of Vazkepa
Positive announcement on a pre-earnings call
Initiate a buy-back of stock
Any positive outcomes of Brave study
ROW / China begin showing positive results
Any additional indications that could be viewed as positive
Add additional institutional buyers as more positive news rolls out
I know I'm just rattling on but one must have faith that things will improve.
It seems to me if a doctor prescibes a drug that is not approved for that indication, then he could / would be charged for infringing. If there is a patent, i.e., V for CVD, then a doctor prescribing 'off label' or not should still be considered a violation and therfore infringing.
So, you are suggesting a safer route and just settle. That in the past with HealthNet did not appear to have much benefit to Amarin. And, if we simply settle would not the Hikma generic market be then split between the other remaining generics which in the end does not benefit Amarin at all.
Am I missing something?
TIA for any clarifications.
And help me understand why Amarin would forego the treble damages. If the Generics (Hikma or others) were found to be guilty of infringement, they should automatically cease to infringe in the CVD space. I would certainly make them pay for the damages.
We all know that infringement is ocurring. Hikma appears to be caught based on their actions. The other generics can hide behind the skirts of the PBM's and insurance companies and say it is not their direct infringement. The Health Net case was one win (if we can call it that) as the settlement did not appear to have the impact we were looking for, but perhaps another lawsuit against insurance companies could begin to turn that tide. It continues to be an education issue we have with Doctors not understanding V and the approvals.
This is great news for Amarin for EU. Back to back good news days. What is happening at Amarin? Go AD.
While I agree with your statement about corruptness in the court system, I think the GSK / Teva case and $230M fine shows it can be done. In looking at Amarin, they had scripts in excess of 100K/ month prior to the Du Decision. That's 3 years ago so they realistically could be approaching $1B in US revenue if they had unfettered access to the market. Marketing, 800 sales reps, and much more. So, again we wait, but now which a much more optimistic outlook. GLTA
NS, thanks for the response. It would certainly be fantastic to get a win on this and put the other generics on notice of their infringement off the skinny label.
Of course we all wonder what the Health Net settlement was for their part in inducing G instead of V. The aftermath of that just never seemed to move the needle much. So not sure the other generics would change their behavior or continue to hide behind the PBMs and insurance decisions.
Yesterday's decision is certainly a move in the right direction.
Best of my recollection it was a total 10% of the market was for the high trigs and ~ 90% in the CVD areana.
Not to get the proverbial cart before the horse but I think most agree that today will result in a favorable outcome for Amarin to take this back to a jury trial. In looking at the seeming preponderence of evidence already presented, one of the outcomes of a jury trial would provide Amarin with treble damages brought on by Hikma's infringement. I's curious as to what that may look like given Hikma's 'infringement sales since 2020.
Capt Beer, can you provide some estimates of Hikma revenue based on their script numbers and the Marjac, North or others do you then have an estimate of these damages. Just trying to get a sense of Hikma wanting to continue this suit with a jury or just work out a settlement.
TIA
Well, that appears to be the best outcome we could have expected. Amarin attorney Kelly was intelligent, well versed, articulate and had a commanding presence and smooth voice. Yes, I agree, it reminded me of Marjac.
Please Lord, let fairness and justice prevail.
Judge Albright is putting Hikma attorney in his place. And Hikma attorney is showing it in his response to the court.
Interesting theory. That could certainly change any thoughts regarding anti-trust if they were involved in the actual formulation / encapulation of V.
I think the reasoning behind their course of action is that they understood that the provider may have a certain capacity and they (Amarin) did not want to get caught short supply if the provider was for some reason beginning to sell to another entity for whatever that reason might be. It just guaranteed a specific purchase volume they (Amarin) anticipated to meet their projected requirements.
I am not an expert but have dealt with manufacturers and distribution my entire working career. Manufacturers have the right to manufacture and sell exclusively through a specific channel of distribution if the distributor meets their agreed purchase objective. If the distributor does not meet the sales objective then they pay the difference as per the agreement or the manufacturer would have the right to expand their product to other distributors.
I don't see how DRL can come in years later and claim they have been wronged when the agreements are 8-10 years in place and for a generic product they are infringing with. It should be turned against them with claims for infringement like the Hikma case. JMO
Happy Easter! He is Risen.
I hope you all have a wonderful day.
RMB, I actually take the Olmesarten/ HCZT combo and then the amlodipine. I will check with my cardilogist next visit about me taking V. I think my total cholestrol is 205 with 55 of that HDL. Can't recall my trigs value.
Thanks for this article. I take Olmesarten for BP and Amlodipine to relax the blood vessels (helps reduce calcified plaque) to maintain my BP around the 120/77-80 levels. Good to know it also helps reduce potential for AD. I am not a candidate for V but certainly hope they can draw some benefits to reduce AD and publish to gain additional positive headlines and scripts. BTW, I am 71.
I did mis-speak when I stated BO for you to sell. But you have repeatedly stated you will be out at $5. That may be fine for your investment, but there are many on this board with a higher cost basis unfortunately and think a higher number is possible. However, I think we agree that there is the opportunity for multiple events that can occur to shoot the price much higher. But it certainly has been a slog. GL
jroon, mms has always had this crazy low BO price at which he will exit. I agree it's a lot higher than we are today, but has no expectation of growth period. I'm 'impatiently' waiting for better days.
Yes, you are correct, and I was a buyer not a seller leading up to that Dusaster and have regretted ever reading about and buying Amarin. Still trying to claw out of that hole. Still waiting for some of the many positives to positively effect the share price.
Hikma appears confident in the appeals process. Let's hope they have miscalculated their position and Amarin can finally prevail in a legal proceeding.
Cardiologist don't have to keep up with 30,000 drugs for CVD. They should be more in tune a responsible for their patient's care. JMO
My 'past' cardiologist when I asked him about Vascepa commented that it was expensive. His PA, which I saw more frequently was a big fan of V as her husband was on it and had great results. I now have a different cardiologist (I moved 25 miles, (Houston) and he is okay with V. I don't have a requirement for V but I always ask to see what their knowledge is. From my experience, it is a hurdle of educating the doctors.
Thanks Capt. I'll attempt to work on this tomorrow.