Amarin Corp Plc (AMRN)

[rosemountbomber]

Pro, what you say could mean that we lose approximately 8% of the revenue (from the commercial CVS Caremark loss), not counting the continued shrinking margins from Amarin lowering the wholesale acquisition cost to satisfy PBMs and insurers. Hopefully that is what we end up seeing.

I have to say that although I am a proponent of under-promising and over-delivering that comments on this topic by Amarin at the last CC left a lot to be desired in terms of clarity:

We announced during the second quarter that in the second half of 2024, our business will be impacted by the loss of an important contract with a major exclusive commercial account which moved branded VASCEPA to a blocked status on its formulary.
This account represents approximately 25% of our business and is expected to reduce our second half 2024 revenues.

It's important to keep in mind that while the loss of the commercial exclusive in the U.S. is certainly significant, we believe that branded VASCEPA will continue to be the market leader after the full impact of the loss of the major exclusive plans absorbed. This recent decision only impacts that single commercial plan under that account. It does not impact Medicare Part D plans.

The significant majority of our exclusive volume is in Medicare Part D plans. We do have exclusive IPE status at other commercial plans, but those plans represent a smaller portion of our total volume. Based on the feedback we received from the PBM for those plans, we expect that they will retain exclusive status for the remainder of 2024. Looking at 2025, we submitted what we believe to be competitive offers for 2025, and plans are now in the process of making their decisions regarding formulary coverage to start 2025.

This is just to say that IMHO they could have been a lot clearer as to what the drop in revenues would be from the CVS Caremark decision.