Amarin, Kowa sales and marketing update

Amarin granted Kowa's Kowa Pharmaceuticals America Inc. subsidiary U.S. co-promotion rights to hypertriglyceridemia drug Vascepa icosapent ethyl. In May, Kowa will begin promotional efforts with its existing sales force of about 250 sales representatives to co-promote the more than 96% pure ethyl ester of eicosapentaenoic acid (ethyl-EPA). Under the deal, Amarin will pay Kowa a co-promotion fee based on a percentage of Vascepa gross margins that increase during the deal's term from the high-single digits in 2014 to low-twenty percent levels in 2018. The deal extends through 2018.

Amarin, which has a U.S. sales force of about 130 representatives, reported 2013 Vascepa revenues U.S. of about $26.4 million. FDA approved Vascepa in July 2012 as an adjunct to diet to reduce triglyceride levels in adults with severe hypertriglyceridemia, defined as triglyceride levels of greater than 500 mg/dL. ...