Amarin Q2 revenue down 16% to $67.5M; PBM drops VASCEPA coverage; new CEO

AMARIN CORP PLCUK

2024-Q2 EPS reported -$0.02 revenue$124,010,000

Total net revenue $67.5M (-16% YoY); net product revenue $47.5M (-27%) pressured by US generic competition.
GAAP net income $1.5M (EPS $0.00) vs net loss $17.6M in Q2 2023; non-GAAP adj. net income $5.9M.
Cash $306.7M; $50M share repurchase program approved but not commenced.
Large PBM removed VASCEPA from exclusive coverage for Commercial national formularies effective July 1, 2024.
CEO Aaron Berg appointed; China CVRR milestone $15M; new EU patent extending VAZKEPA exclusivity to 2039.

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