Amarin Corp Plc (AMRN)

[HDGabor]

B-

a.) The WAC is increasing but the (average) net price decreasing (mainly due to higher chargeback*)
b.) Dispensed scripts was higher than the sold. Part of the dispensed was sold in 2021.

e.g. (numbers are for example only it is not an exact calculation)

2021
dispensed: 1.000.000 (to patients)
sold: 1.100.000 (to wholesalers)
WAC: 320
Chargeback (to payors): 50%
Discount (to wholesalers): 5%

Gross Revenue: 320.0M (1.100k x 320)
Discount: 17.6M (1.100k x 320 x 5%)
Chargeback: 160.0M (1.000k x 320 x 50%)
Net (reported) Revenue: 174.4 M

2022

dispensed: 1.000.000 (to patients)
sold: 900.000 (to wholesalers)
WAC: 330
Chargeback (to payors): 60% (of WAC)
Discount (to wholesalers): 5%

Gross Revenue: 297.0M (900k x 330)
Discount: 14.9M (900k x 330 x 5%)
Chargeback: 198.0M (1.000k x 330 x 60%)
Net (reported) Revenue: 84.2 M

Best,
G

* I am not sure but … furthermore chargeback calculated based on dispensed (in Q1) scripts, meanwhile net revenue (“sold” scripts) was booked in 2021 by a higher net price.