Amarin reports strong sales growth for Vascepa

Company targets expanded market share for fish oil drug that cuts risk of heart disease

Irish biopharma group Amarin has reported 85 per cent growth in net revenue from its heart drug Vascepa.

The company reported sales of $32.8 million for its refined omega-3 fish oil drug in the three months to the end of June. Vascepa reduces harmful blood fats – called triglycerides – in people at risk of heart disease.

The figure beat analyst forecasts which were in a range from $27.2 million to $32.5 million. After costs, including ongoing R&D, the loss per share was 13.4 US cents, broadly in line with expectations.

The company also updated the market on an amendment to an ongoing study of the efficacy of the drug in improving cardiovascular outcomes for high risk patients already taking statins.

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"We look forward to continuing to expand market share," chief executive John Thero said, adding that the company's focus now was on the ongoing Reduce-IT study that could dramatically increase its patient population.

Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times