Recordati Expands Reach with Amarin for Vazkepa in Europe
Recordati and Amarin Join Forces for Vazkepa in Europe
Recordati has taken a significant step in expanding its portfolio in the cardiovascular market. The company has secured an exclusive licensing and supply agreement with Amarin to market Vazkepa, a vital cardiovascular medication, across 59 countries in Europe. This agreement is set to enhance Recordati’s presence in the Specialty and Primary Care segments, supporting their growth plans in the coming years.
About Vazkepa and Its Clinical Impact
Vazkepa, known scientifically as icosapent ethyl, is designed to lower the risk of cardiovascular events in statin-treated adults, especially those at high risk with elevated triglycerides. The approval of Vazkepa in the EU and UK in 2021, followed by its introduction in Switzerland in 2022, was largely based on impressive outcomes from the REDUCE-IT study. This pivotal Phase 3 trial involved over 8,000 patients and demonstrated statistically significant reductions in Major Adverse Cardiovascular Events (MACE).
Robust Clinical Data Supporting Vaszkepa
The unique position of Vazkepa in the market is strengthened by its robust clinical data, positioning it as the only treatment proven to effectively reduce cardiovascular risk in patients with high triglycerides who are on statin therapy. It has been integrated into various treatment guidelines worldwide, making it a preferred choice for healthcare professionals tackling cardiovascular diseases.
Financial Projections and Market Expectations
Currently, Vazkepa is generating a promising revenue stream in 11 European nations, with net sales of €12 million in 2024. With the anticipated growth trajectory, revenues are expected to surpass €40 million by 2027, with profitability (EBITDA positive) likely as early as 2026. These projections highlight the increasing demand and acceptance of Vazkepa in the healthcare community.
Terms of the Licensing Agreement
Under the new agreement, Recordati will make an upfront payment of $25 million to Amarin, which includes the manufacturing and supply of the product. Amarin stands to earn additional royalties contingent on the performance of Vazkepa; these can amount to up to $150 million if revenue thresholds are met, starting at €100 million.
Leadership Insight: A Commitment to Cardiovascular Care
Rob Koremans, the CEO of Recordati, expressed great enthusiasm about this collaboration, emphasizing the depth of expertise Recordati possesses in the cardiovascular domain. He believes this agreement showcases their commitment to enhancing the specialty care business through innovative treatments like Vazkepa. This partnership signifies a strategic move towards enriching their portfolio and providing impactful solutions for patients at risk of cardiovascular complications.
Strategic Growth and Market Positioning
Alberto Martinez, EVP of Specialty & Primary Care at Recordati, echoed this sentiment by highlighting Vazkepa's extended patent protection, which goes until 2039. He emphasized that the collaboration with Amarin positions them for substantial growth and enhanced patient care. The science behind Vazkepa, coupled with the increased medical advocacy for cardiovascular health, equips Recordati to meet the growing needs of European populations effectively.
A Vision for the Future
Aaron Berg, President and CEO of Amarin, reflected on the partnership, expressing confidence in Recordati’s ability to harness the commercial potential of Vazkepa across Europe. With a shared commitment to improving patient outcomes, this partnership is poised to set new standards in cardiovascular care.
Frequently Asked Questions
What is the significance of the Recordati and Amarin agreement?
The agreement allows Recordati to commercialize Vazkepa, enhancing their portfolio in cardiovascular care across 59 European countries.
What is Vazkepa used for?
Vazkepa is prescribed to reduce the risk of cardiovascular events among statin-treated adults who are at high cardiovascular risk with elevated triglycerides.
What are the financial implications of this deal?
Recordati will initially invest $25 million in the agreement, with potential royalties for Amarin that can reach $150 million based on sales performance.
How has Vazkepa performed in clinical trials?
Vazkepa has shown significant results in clinical trials, particularly the REDUCE-IT study, which demonstrated its effectiveness in reducing cardiovascular events.
What future growth is expected for Vazkepa?
Vazkepa is projected to grow from €12 million in sales in 2024 to over €40 million by 2027, with positive EBITDA anticipated from 2026.
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