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Monday, August 16, 2021 4:11:26 PM
Pfizer is making money, no doubt. The specifics of the agreement may be confidential but this is a mutually beneficial agreement.
HLS was at a crossroads. They have less than 25 reps for the whole country. No point adding during Covid because they couldn’t get in the doors of the cardiologists office. They focused on larger speaker events online with big names and getting on the treatment guidelines. Done
Now that things are opening they had to decide to hire a lot of reps and train them or “merge” with an existing sales force to move much faster and use people with existing relationships in the cardiovascular community. Pfizer was a perfect fit. They will get a percentage sales or milestone payments or whatever but this is the Pfizer sales force trying to create revenue for Pfizer as well.
This was also an internal/national decision by HLS and Pfizer Canada on how both could make money. I doubt they needed Amarin’s approval - they clearly own the rights for V in Canada and can do what they want OTHER THAN UNDERCUT ON PRICE which could cause Amarin problems negotiating prices in EU and ROW.
Pfizer is interested in V - no question. They may be putting a toe in the water here but it’s not a test to buy US. Completely different market - although very similar to EU.
The US is one of the only for profit healthcare countries in the developed world and therefore it is a different game there compared to almost everywhere else.
I’m still surprised the stock went down on such news but after all it is Amarin.
Recent AMRN News
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- Research Evaluating Benefits of VASCEPA®/VAZKEPA® (icosapent ethyl) to be Presented at the American College of Cardiology’s (ACC) Annual Scientific Session & Expo • GlobeNewswire Inc. • 03/25/2024 12:00:00 PM
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