Amarin Corp Plc (AMRN)

[TalShu]

VASCEPA IN THE MIDDLE EAST

With reference to the 2022 Q3 Conference Call during which Karim Michael asserted that the expansion into Saudi Arabia and Bahrain was "achieved" (see transcript and Slide Six), I would like to bring shareholders’ attention to the following:

1. Checking the Human Drugs List of the Saudi Food and Drug Authority (https://www.sfda.gov.sa/en/drugs-list) I found no registration number and mention of Vascepa, Vazkepa or Icosepent ethyl in it.
2. To double check, I contacted Nahdi S.A. – the largest pharmaceutical chain in Saudi Arabia – through their on-line service (https://www.nahdionline.com/en/) and within one minute a pharmacist was talking to me. After checking his data base on his computer, he informed me that Vascepa is NOT AVAILABLE in the entire Kingdom of Saudi Arabia.
3. Going to the Biologix FZCo website (https://biologixpharma.com) - Amarin’s partner in the Middle-East North-Africa (MENA) region - we ONLY find two short bullet point statements to the effect that the three cardiology products the company carries (Brinavess, Fosrenol and Vascepa) "cover 5 countries”, and treat "more than 800 patients". No other information is given.
4. In the past, Amarin sent out two press releases relevant to the MENA region:
a) "AMARIN Announces First Middle East Approval for Vascepa" on March 21, 2018. This concerns Lebanon.
b) "AMARIN Announces Approval of Vascepa for United Arab Emirates" on July 26, 2018.
5. I, and a number of Middle Eastern investors, wonder why Amarin did not this time PR approval of Vascepa in Saudi Arabia and Bahrain, particularly as the former is potentially the only meaningful market in the whole MENA region as Karim Michael should know well given his Egyptian background and professional experience.
6. We are disturbed that Karim Michael continues the tradition of MISLEADING official statements Amarin had entertained regarding the availability/sales of Vascepa in the MENA. Suffice it to note the utter absence of detailed revenue numbers generated by the region to date. To be correct, the term “revenue” from MENA was used only once, in the last Q3 Call, to only be lumped in the ROW basket.

Respectfully,
TalShu