Wednesday, September 16, 2020 3:53:32 PM
Louise Chen
How has the U.S. opportunity for VASCEPA unfolded? Has COVID-19 impacted sales this year? Can you discuss what revenues look like today and where they could grow to? And what size sales force do you have promoting VASCEPA in the U.S.? And how has reimbursement been for the drug?
John Thero
So as a cost effective drug, and you know, has been deemed even by the, you know, sort of [watchdog groups] to be cost effective and argue that we could significantly increase our price, but still be cost effective. You know managed care has provided good coverage for VASCEPA. It's continued to improve and expand that coverage, you know, throughout this year where, you know, for most plans, it's covered. We've moved to Tier 2 unrestricted in most places and starting to increasingly show up as a preferred brand for, you know many payors.
Our biggest challenge is introducing this drug to physicians and the COVID-era part didn't help. We did launch this in January, in the first quarter of this year. We had greater than 100% growth year-over-year. You know, COVID then hit in March, in the second quarter of this year. We had to pull back on direct sales promotions. You know, we're now back in the field, but as you probably hear and with many other companies, you know, that continues to be, you know, somewhat limited.
We're seeing, you know, roughly 40% of our target physicians open to having, you know, sales representatives come into, you know, educate them at this point. A lot better than it was a quarter ago, I think each month it's getting better. But, you know, it's still somewhat limited. So we're growing; we can believe that with good reimbursement, you know, positive clinical results, recommendations from, you know, many leading, you know, medical societies that we can, you know, continue to grow the drug and it's really in its infancy. The new dynamic here of late is that, you know, there is likely to be in the United States, you know, a generic entry. There are multiple generics that are approved, none that have launched yet. There have been comments by, you know, some of them of having limited supply.
We will see over time, what supply, you know, they can garner. But at this point in time, our belief is that because this is a market that is in its infancy and because supply is likely to be limited, you know, by the generics at least for some period of time that we can grow the market and grow the market hopefully faster, you know, than what generics can supply the market with that increment accreting to Amarin. So, we're continuing to push forward on our education programs, on our market aware of this programs and happy to have a lot of support from medical societies [the key opinion leader] in that regard.
Louise Chen
Amarin made a number of presentations at the ESC meeting late this summer. These presentations included the EVAPORATE final results, information on the interim analysis conducted during REDUCE-IT and an evaluation of the applicability of REDUCE-IT in a French population with a fast MI data. What are the key takeaways and how is that data received by physicians at the conference?
John Thero
You know, so the European Society of Cardiology meeting, which is the largest cardiology meeting in the world, you know, had I think seven different presentations relative to VASCEPA and related trials around the VASCEPA, a lot of discussion of the product, you know, in that meeting. In the background, the European Society of Cardiology expanded its guideline recommendations for icosapent ethyl, which is VASCEPA.
You know, last year, you know, they and the European Atherosclerosis Society, you know, both included VASCEPA, you know, in their guidelines recommending the use of VASCEPA for, you know, patients with established cardiovascular disease or, you know, triglycerides and other risk factors similar to what we have in the U.S. label.
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