Amarin Corp Plc (AMRN)

[HDGabor]

Kiwi,

BioPharma could not lose, just the yearly return % will be lower.

a.) Without going into detail: with 28M OPEX, 65% GM and $126/script we need app. 26k scripts / week for +/-0 CF. At this level the Net Sales will be 43M/Q, so BioP will receive 4,3M/Q (17M / Y)

b.) if we could not reach at least +/-0 CF, we will be in bankruptcy after certain time. BioP still receiving the 10% during this period and at bankruptcy they will sell the Collateral. The Collateral isn't only the patents (btw: the a lot of patents is not for Vascepa itself only, so it has value), but includes other rights (ie.: Vascepa approval from FDA).

In this case 'Biopharm has received back less then $20m', but I am sure they could sell Vascepa (do not forget approved MARINE indication) and patents for $80/130M (ie.: to AZN with Epanova ...)