Italy's NHS approved VAZKEPA® for reimbursement, enhancing access for high-risk cardiovascular patients in Europe.
Quiver AI Summary
Amarin Corporation has announced that the Italian National Health Service has approved VAZKEPA® (icosapent ethyl) for national reimbursement to help reduce cardiovascular risk in eligible high-risk patients. This approval makes Italy the third market in the EU5 to offer national reimbursement for VAZKEPA, and the ninth such approval in Europe overall. With cardiovascular disease being the leading cause of death and hospitalization in Italy, the approval addresses a critical clinical need for effective treatment options. The decision follows a new strategy implemented by Amarin in 2023 aimed at improving reimbursement and access in Europe, which has led to significant progress as now over half of the eligible cardiovascular disease population in Western Europe has access to VAZKEPA. Amarin's president and CEO emphasized the importance of this approval for patients in Italy and its potential to enhance treatment for millions of individuals worldwide.
Potential Positives
- Italy’s National Health Service approved VAZKEPA® for national reimbursement, allowing broader access for high-risk cardiovascular patients.
- This marks the third EU5 market to grant national reimbursement for VAZKEPA, reflecting the company's growing recognition in Europe.
- The approval underscores the success of Amarin’s new strategic approach implemented in 2023, resulting in significant advancements in reimbursement efforts across Europe.
- With the patent protection for VAZKEPA extended to 2039, the company has a long-term competitive edge in the European market, fostering growth potential.
Potential Negatives
- Despite progress in securing reimbursement across several European markets, there remains a significant portion of the eCVD population in Europe that has yet to receive access to VAZKEPA, indicating potential market limitations.
- The forward-looking statements included in the release highlight substantial risks and uncertainties, which could concern investors about the company’s future performance and stability.
- The mention of 'tremendous untapped opportunity' suggests that the company may not be fully capitalizing on existing potential, raising questions about its marketing and sales strategies.
FAQ
What is VAZKEPA® approved for in Italy?
VAZKEPA® (icosapent ethyl) is approved for national reimbursement to reduce cardiovascular risk in eligible high-risk patients.
How does Italy's approval benefit patients?
The approval provides eligible high-risk patients access to an effective treatment option for reducing cardiovascular events.
What is the significance of Italy in VAZKEPA®'s European launch?
Italy is the third EU5 market to grant national reimbursement for VAZKEPA®, enhancing patient access in Europe.
What percentage of eCVD patients in Europe have access to VAZKEPA®?
Countries providing access to VAZKEPA® now account for over 50% of the total established cardiovascular disease population in Western Europe.
What strategic changes did Amarin implement in 2023?
Amarin executed a focused strategy to advance reimbursement, access, and commercialization of VAZKEPA® in European markets.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AMRN Insider Trading Activity
$AMRN insiders have traded $AMRN stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $AMRN stock by insiders over the last 6 months:
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Full Release
-- Italian Health Authorities Approve VAZKEPA® (icosapent ethyl) for National Reimbursement to Reduce Cardiovascular Risk in Eligible High-Risk Patients
1
--
-- Italy is the Third EU5 Market to Grant National Reimbursement; Ninth
National Reimbursement for VAZKEPA® Overall in Europe
--
-- European Progress Has Advanced Patient Access: Countries That Have Provided Access to VAZKEPA Now Account for More Than 50% of the Total Established Cardiovascular Disease (eCVD) Population in Western Europe --
-- Italy Approval Further Validates the Progress Made by the Company Following Execution of a New Strategy Implemented in 2023 --
DUBLIN and BRIDGEWATER, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN), today announced that Italy’s National Health Service (NHS) approved VAZKEPA® for national reimbursement to reduce cardiovascular risk in eligible high-risk patients, as published in the Official Journal of the Italian Republic (i.e.
Gazzetta Ufficiale della Repubblica Italiana)
1
.
As in most European countries, cardiovascular disease is the leading cause of death and hospitalization in Italy, with over 217,000 deaths
2
per year and over 107,000 hospitalizations annually due to myocardial infarction alone
3
. One in five cardiovascular patients experience another cardiovascular event within 12 months of their first event
4
, highlighting the urgent need for new treatment options to reduce cardiovascular risk.
Commenting on the reimbursement, Dr Aldo Pietro Maggioni, Director of the Study Center of the Italian Association of Hospital Cardiologists (
centro studi ANMCO
) stated: “Patients with established cardiovascular disease and elevated triglycerides, despite a well-managed LDL-C level, still have a higher likelihood of experiencing subsequent CV events, as there are currently no effective therapies for this patient phenotype. The Italian regulatory authority addressed this clinical need by authorizing the reimbursement of icosapent ethyl which, in the REDUCE-IT study, has shown to reduce cardiovascular death as well as recurrent myocardial infarction, stroke and coronary revascularization. The reimbursement approval of icosapent ethyl offers clinicians an additional effective treatment option for high cardiovascular risk patients
.”
Italian Approval Underscores Impact & Progress of New Strategy
As highlighted in Amarin’s
Investor Day
in November, in 2023 the Company implemented a more focused strategic approach to advance reimbursement, access and commercialization in Europe. This improved strategy has delivered meaningful results. Over the last 18 months, and factoring in the Italy approval, the Company has now secured national reimbursement in 3 of the EU5 markets and nine European markets overall. This represents more than 50% of the current total eCVD eligible patient population across Western Europe.
Additionally, as a reminder, the intellectual property for VAZKEPA in Europe has recently been extended to 2039. Unlike the US, there is no “skinny label” risk that permits competitive entry prior to the 2039 expiration of the Company’s patents for the cardiovascular risk indication for VAZKEPA.
Commenting on the Italian approval, Aaron Berg, President & CEO of Amarin, said, “Today is an important day, not only for Amarin, but for patients in Italy, the third largest economy in Europe. We appreciate that the Italian authorities have recognized the strength of the clinical data supporting VAZKEPA and affirming the potential impact it can have for the many eCVD patients across all of Italy.”
Commenting on the Company’s progress in Europe and globally, Berg said, “Today’s announcement is another important step that builds upon the strong foundation to capitalize on the tremendous untapped opportunity for VAZKEPA globally. With recently granted patent protection extending the exclusivity in Europe to 2039, it is still early in the lifecycle with a long runway to generate growth. Backed by strong science validated through the endorsement of over 50 medical societies globally, and with 46 countries that have now approved VASCEPA/VAZKEPA for cardiovascular risk reduction, we know there remains significant potential to benefit millions of patients worldwide. Our focus remains clear: to capitalize on the global value opportunity for VASCEPA/VAZKEPA by getting it into the hands of as many patients as possible. That is our commitment to patients, providers, employees and shareholders.”
About Amarin
Amarin is an innovative pharmaceutical company leading a new paradigm in cardiovascular disease management. We are committed to increasing the scientific understanding of the cardiovascular risk that persists beyond traditional therapies and advancing the treatment of that risk for patients worldwide. Amarin has offices in Bridgewater, New Jersey in the United States, Dublin in Ireland, Zug in Switzerland, and other countries in Europe as well as commercial partners and suppliers around the world.
Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including beliefs about the potential for VASCEPA (marketed as VAZKEPA in Europe); beliefs about icosapent ethyl (IPE)’s role concerning appropriate patients suffering from cardiovascular disease (CVD) and potential population health impact, as well as general beliefs about the safety and effectiveness of VASCEPA. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. A further list and description of these risks, uncertainties and other risks associated with an investment in Amarin can be found in Amarin's filings with the U.S. Securities and Exchange Commission, including Amarin’s annual report on Form 10-K for the full year ended 2023.
Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Amarin undertakes no obligation to update or revise the information contained in its forward-looking statements, whether as a result of new information, future events or circumstances or otherwise. Amarin’s forward-looking statements do not reflect the potential impact of significant transactions the company may enter into, such as mergers, acquisitions, dispositions, joint ventures or any material agreements that Amarin may enter into, amend or terminate.
Availability of Other Information About Amarin
Amarin communicates with its investors and the public using the company website (
www.amarincorp.com
) and the investor relations website (
investor.amarincorp.com
), including but not limited to investor presentations and FAQs, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that Amarin posts on these channels and websites could be deemed to be material information. As a result, Amarin encourages investors, the media and others interested in Amarin to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on Amarin’s investor relations website and may include social media channels. The contents of Amarin’s website or these channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933.
Amarin Contact Information
Investor & Media Inquiries:
Mark Marmur
Amarin Corporation plc
PR@amarincorp.com
2
Lstat 2021 -
https://www.istat.it/wp-content/uploads/2024/06/Report-cause-di-morte-Anno-2021.pdf
3
PNE 2022
4
Gargiulo G. et al. 2022
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