Amarin Corp Plc (AMRN)

[HDGabor]

K-

Yes I've been thru many of the formularies

Many? Let me assume it is not 100% but 1% or 5% or 10% or ?% ... never mind Amaring checked all (100%) of them and they said:

As of March 31, 2022, through our offerings designed to be competitive with the current market landscape, we expanded coverage to approximately 45% of the total commercial and Medicare Part D lives on a weighted average basis, with VASCEPA as the exclusive IP product.
...
So, as you have seen, this strategy we started implementing from the last quarter of 2021, as a reminder. And we started to communicate by saying we have 40% of the lives exclusive. This quarter, we said we now have 45% of the lives on exclusive basis. So, what does this mean, it means that in those plans, VASCEPA is really the only product that will be dispensed, but will be dispensed with a lower margin. And up to now, what we have seen is that those plants are taking full advantage of that offer, meaning we are seeing basically most of the patients in volume coming on VASCEPA branded from a volume perspective. Now, we are not rebating additional numbers, meaning we know where we need to go to be competitive today, and we are not eroding further the price, just to be very clear on that one. We have a set plan. We have a set rebate mechanism. And there could be more plans that want to take advantage of it, but I think we are sort of pretty close to half of the market, and we are almost there. So, we don’t anticipate significant changes on that end, but it’s clearly working to stabilize the volume, right. Our decline in the non-exclusive is 18%, 19%, and in the exclusive we are not declining at all, right. We are keeping the volume. That’s what the picture is looking like. So, yes, there will be a shift in the market, but over the next weeks, quarters, it will stabilize at a certain point in time.

re. Germany:

As regards another post re Sweden 2020 ....as if nothing's changed since then .
KM mentioned the issue with Germany in the CC I believe

a.) many things changed ... everywhere (it is not in Germany only ... in Sweden also)
b.) I could not find (read) anything in the transcript that say (or similar to) your "statement":

Germany will want a lower WAC cost then Sweden

c,) Yes, the negotiation is harder now than 1-2-3 years ago (e.g. affected by newly proposed healthcare austerity measures) in Germany but do not think that Sweden negotiated it as in 2020 ... Yes (more likely) the price will be less now than in 2020 but it does not mean necessarily that it will be lower than in Sweden.
I am sure the final price will be lower but the requested (net) price (after deduction of statutory rebates - Section 130 & 130a SGB V) € 253.15 is higher by 58% than the agreed net price (€ 160) in Sweden.

Best,
G