Amarin Corp Plc (AMRN)

[Jt0082]

Interesting report, you don't often see GS being involved in a raising and then abstain from saying BUY and coming out with a target below the price they raised capital at. I guess the Adcom happened and they are right to highlight the history going into it and be a bit conservative.

That being said, they are SUPER conservative on the revenue ramp;

2019 401
2020 540
2021 656

It doesn't square with me at all as we are growing 80%-100% (without a label!) and assuming we get the label, we should certainly maintain or accelerate the growth, not slow down? They even highlight in their survey most doctors still find it difficult to prescribe because of coverage and re-imbursement. Surely with a label and better coverage and DTC campaign, the sales ramp will be maintained or higher?

They really do not show much faith in Amarin's new salesforce whatsoever.

Also why not include Jardiance as a comparison ??

Think these guys may change their view as quarters go by but wow talk about faith in Amarin's new sales force lol