Amarin focus on new drug

COMMERCIALISING ITS new cholesterol drug will be the focus this year for biopharma group Amarin, which expects to file an application in the third quarter to have the drug approved in the US.

Reporting annual results yesterday, Amarin chairman and chief executive Joseph Zakrzewski said the company’s aim was to be the leader in the market for treating patients with high triglycerides.

Triglycerides are a type of fat stored from food intake and released as energy. At normal levels, they are not a source of concern. However, at elevated levels, particularly above 500 milligrams per decilitre (mg/dl), they are considered to increase the risk of heart disease.

Late last year, Amarin reported top line figures from a late-stage trial showing its drug, AMR101, was more effective at treating elevated levels of triglycerides than had been supposed and also had fewer side effects.

The company will report the detailed figures in the next few months. It will also receive topline data from a second drug trial in the second quarter of 2011.

On the financial side, Amarin reported a significantly increased net loss of $249.6 million (€178 million). However, this was due to an exceptional charge relating to how it accounts for warrants under US accounting principles rather than under IFRS.

Stripping that out, the net loss is closer to $44.5 million, compared to $30.6 million in 2009, with much of the difference attributable to increased RD costs.