Thanks ggwpq! That was what I was fishing for...So AMRN could end up receiving up to $154 million from Edding. That's more money for marketing in Europe if needed. That is certainly one big chunk of change for Edding which I believe is why they believe it will be a very good selling drug for them. I wonder how much they will end up charging for Vascepa given their costs of having to pay AMRN a royalty on top of residual milestone payments. Wish we had a credible source for Edding's sales projections.
ggwpq, the amarin announcement is dated 2015 but the Edding preliminary prospectus states the agreement was as of 2017. Who do you believe? I posted several findings in the Edding prospectus a couple of weeks ago. In the prospectus, they claim that they are currently in phase 3 stage of trial and are selling Vascepa on a limited basis in the province of Hainan the amount converted into dollars =$500,000.
The deal sounds pretty standard to me. The great thing about Canada and China is that any revenues Amarin receives is gravy with no expenses attached. So if U.S. sales cover all its costs, an extra $20 million or $30 million in royalty payments will be a nice boost and, in lean quarters, will guarantee a profit for Amarin.
It WAS a sweetheart deal...At the time Edding entered the deal, Amarin had not completed the Reduce IT study for CVD...Amarin would probably get much better terms if the deal were done today.