Amarin Corporation plc (NASDAQ:AMRN) Q3 2023 Earnings Call Transcript

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Patrick Holt: Yeah thanks very much for your question. Look, it’s important to know — we’re really trying to be much more transparent in what we’re sharing with you all. It’s feedback we’ve received from investors, so we take that on board. And in regards to the different markets, each market in Europe is quite different and then China is different again. We’re in a unique position now as we launch that we do, we are able to see that we have patient numbers so far in Spain and Netherlands being what we have described. When we think of China it’s quite a different beast. So it’s the second largest market globally. It’s a very significant opportunity for us. It’s actually unique also in the sense that they’re launching now with a very high triglyceride indication.

As I mentioned, they’ve just submitted for the cardiovascular risk reduction indication with a clinical trial waiver, which is very important also. That opens up the potential for national drug and reimbursement listing in the future for the cardiovascular risk reduction indication. So we feel that China is a very significant opportunity over time. So China’s really — I would say China is a unique opportunity. In regards to the Middle East, those markets are, the ones you mentioned are still in early stage of development. We’re going through market access and pre-launch. And if we think of rest of world and what’s quite interesting and what is quite exciting for us is we have revenues right now in markets such as Canada, some parts of the Middle East, and as we just mentioned, with a very high triglyceride indication in China just from the very end of September.

So we have a lot of runway for many of the rest of the world markets to continue to launch over time. Many are still in the regulatory market access and pre-launch stages. So there’s a lot of opportunity for us over time to grow the business via partnerships.

Unidentified Analyst: Okay, thank you. And then a quick follow-up on China. Do you — can you offer any more color on a potential milestone payment from Edding, assuming an NPA approval for the risk reduction in CV?

Patrick Holt: Yeah, I would just say that our agreement with Edding is a typical licensing agreement. So there are payments associated with different milestones as both revenue as well as specific milestones on regulatory elements and we have stated some of that in our filings.

Tom Reilly: Yeah, just in more specific, just to add to that, we have up to a range of $5 million to $50 million in total of scales milestones that could be earned.

Unidentified Analyst: Okay. Thank you.

Operator: We have reached the end of the question-and-answer session and I will now turn the call over to Patrick Holt for closing remarks.

Patrick Holt: Well, thank you everyone for your attendance today and we really appreciate your questions, your engagement with the company. As you’ve heard from us, we are incredibly focused on driving operational momentum that we truly believe will therefore drive and maximize shareholder value. We appreciate your engagement and we look forward to talking to you more as the quarter continues. And please reach out to us with any questions you have and thank you again for your attendance.

Operator: This concludes today’s conference and you may disconnect your lines at this time. Thank you for your participation.

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