Amarin reports Q4 adjusted EPS 2c, consensus 0c

Reports Q4 revenue $90.2M, consensus $87.32M. "2022 was a year of significant progress for the new Amarin, as we continue to advance our strategy to become a global, diversified cardiometabolic player. In 2022, our team delivered four consecutive quarters of U.S. revenue stabilization – which speaks to the strengths and efforts of this team to sustain and support the VASCEPA/VAZKEPA brand – and delivered positive free cash flow in the fourth quarter of $4 million. These efforts are fueling our strategy and focus on Europe and Internationally. In Europe, despite governments facing major macroeconomic challenges, Amarin advanced from having price negotiations with one European market in January 2022 to having VAZKEPA available in five markets, and in the pricing negotiation stage in another five markets by the end of the year. We have secured attractive pricing in all markets where we have launched, which will support our current negotiations in other European countries, offering excellent prospects for revenues in these markets. We expect the majority of our reimbursement decisions and launches in major markets to occur in 2023, and we remain confident in our ability to realize $1 billion or more in peak revenue across Europe alone. In International, we secured six additional international regulatory approvals during 2022, including Australia, Hong Kong, Bahrain, Puerto Rico, Saudi Arabia, and Switzerland, and a seventh, New Zealand, was secured in January 2023. We expect to enter 20 markets outside of Europe by the end of 2024 and believe the Rest of World represents a potential $1 billion peak revenue opportunity – and we are aggressively pursuing that potential. We are also advancing our fixed-dose combination program for icosapent ethyl, which will improve the future value, penetration and long-term value of our VASCEPA/VAZKEPA franchise in Europe. We see significant opportunities for our FDC portfolio to impact the product lifecycle in the marketplace, while offering patients greater convenience and driving increased adherence. As we continue our efforts in 2023, we will advance on our vision with a clear focus on geographic expansion in Europe and International, continue our operational excellence efforts and continue our portfolio diversification, including the continued development of our FDC program," concluded Mr. Mikhail.