Amarin Corp Plc (AMRN)

[sts66]

AMRN fucks up again - they're closing Germany operations completely because they could not agree on a price - god knows when V will be available in Germany:

Amarin Provides Update on VAZKEPA® (icosapent ethyl) Pricing Negotiations in Germany

Frankfurt am Main, August 19, 2022 – Amarin Deutschland GmbH today announced that after the conclusion of the fourth and final round of negotiations with the National Association of Statutory Health Insurance Funds (Spitzenverband der gesetzlichen Krankenversicherungen – GKV-SV), a viable agreement on the reimbursement price of Vazkepa® (icosapent ethyl) in Germany could not be reached, despite Amarin’s best efforts to find a solution in the interest of cardiovascular patients across the country. As previously indicated by the company, the matter is now moving to the Arbitration Board for a final decision.

As a result of the negotiation outcome with the GKV-SV, Amarin Deutschland GmbH has been forced to suspend the supply of its only product, Vazkepa in Germany, and discontinue its German business operations. This unavoidable measure will be implemented as of September 1st, 2022.

Amarin Deutschland GmbH is disappointed by this outcome as it strongly believes that Vazkepa offers significant medical benefits to adult high-risk patients with cardiovascular disease and triglyceride levels of ≥ 150 mg/dL (1.7 mmol/L) throughout Germany1, as demonstrated by the results of the REDUCE-IT study2. These results were also recognized by the European Medicines Agency (EMA) and led to a positive benefit assessment in several European countries such as France, the Netherlands, Sweden and the UK. Vazkepa has received final positive reimbursement decision and pricing in Sweden and the UK.

In the ranking of cause-of-death statistics, for decades, cardiovascular diseases (CVDs) are the leading cause of death in Germany. In 2020, 985.572 people died in Germany from any cause, wherein CVDs were responsible for 34.3% of these deaths; 18.3 % occurred among women and 16.0 % among men (Destatis 2020)3. Apart from mortality, CVD related morbidity causes an important burden of quality of life lost in Germany.

“We deeply regret having to take this drastic decision at a critical time where high-risk cardiovascular patients in Germany are essentially being denied a medically effective therapeutic option that other European health authorities have recognized as being valuable in the fight against cardiovascular disease,” said Laurent Abuaf, Senior Vice President and President Europe of Amarin Corporation.