Amarin Corporation plc · NASDAQ:AMRN
Amarin — Q4 2022 Earnings Presentation
24 slides from Amarin's earnings presentation, Mar 1, 2023
Slide 1: Fourth Quarter & Full Year 2022 Financial Results and Business Update Conference Call
Fourth Quarter & Full Year 2022 Financial Results and Business Update Conference Call Karim Mikhail President & CEO Tom Reilly CFO March 1, 2023
Slide 2: Forward Looking Statements & Disclaimer
Forward Looking Statements & Disclaimer This presentation contains forward-looking statements, such as those relating to the commercial potential of VASCEPA® (VAZKEPA® in Europe), clinical and regulatory efforts and timelines, potential regulatory and pricing approvals, patent litigation, generic pr
Slide 3: Summary
Summary 01Fourth Quarter & Full Year 2022 Highlights Karim Mikhail, President & CEO 02 Fourth Quarter & Full Year 2022 Financial Results Tom Reilly, CFO 03Looking Ahead to 2023 Karim Mikhail, President & CEO AMARIN, VASCEPA, VAZKEPA and REDUCE-IT are trademarks of Amarin Pharmaceuticals Ireland Limi
Slide 4: Fourth Quarter & Full Year 2022 Highlights
01 FOURTH QUARTER & FULL YEAR 2022 HIGHLIGHTS Karim Mikhail, President & CEO
Slide 5: Amarin Leadership Took the Right Actions in 2022
Amarin Leadership Took the Right Actions in 2022 Focus on Operational Excellence to Enhance Value SUCCESSFUL SIGNIFICANT TRANSFORMED EXECUTION ON GLOBAL PROGRESS ON CASH LEADERSHIP COMMERCIALIZATION PRESERVATION TEAM AND BOARD INITIATIVES • Attractive reimbursement and • Added global, pharma, pricin
Slide 6: Multiple Markets Are Transitioning to Launch
Multiple Markets Are Transitioning to Launch 2. Submission of Market 1. Regulatory 3. Scientific Evidence 4. Reimbursement 5. Country Launch Access & Reimbursement Approval Assessm. / Recommendation Price Negotiations Pricing announcement & Publication Dossiers Austria Individual reimbursement > nat
Slide 7: U.K. Pricing & Reimbursement and Launch Highlights
U.K. Pricing & Reimbursement and Launch Highlights APRIL 8, 2021 JUNE 2022 JULY 2022 MHRA Approves VAZKEPA Amarin UK Officially Amarin Receives Final NICE for reducing the risk of cardiovascular events Operational Key Guidance for VAZKEPA in statin treated eCVD with fasting TG > 1.7 mmol/l, Account
Slide 8: Successful Price Negotiation Compared to Other Oral Analogues
Successful Price Negotiation Compared to Other Oral Analogues Daily Treatment Price (DTP) in € Jardiance 1.44 Forxiga 1.54 Brilique 2.30 Nilemdo 2.33 Entresto 3.85 Vazkepa 5.67 FEBRUARY 23 8
Slide 9: Strong Initial Market Access Performance in the U.K.
Strong Initial Market Access Performance in the U.K. Uptake from NICE TA Slide Priority Account Eligible Patient Population Availability Index Cumulative positive formulary inclusion from NICE TA Cheshire & Merseyside ICB (Pan Mersey) 29,000 100 North East & North Cumbria ICB (County Durham) 28,597
Slide 10: Amarin & CSL Seqirus Announce Agreement in Australia and New Zealand
AMARIN & CSL SEQIRUS ANNOUNCE AGREEMENT IN AUSTRALIA AND NEW ZEALAND • Amarin and CSL Seqirus entered into an exclusive license and distribution agreement in Australia and New Zealand. • CSL Seqirus will in-license VAZKEPA from Amarin and will be responsible for market access and reimbursement effor
Slide 11: International Expansion A Significant Focus – Markets By 2024
International Expansion A Significant Focus – 20 Markets By 2024 13 BY YEAR END 2024 Switzerland China Puerto Rico Saudi Arabia Bahrain Hong Kong (CVRR) Additional markets pending, including China New markets represent 50M+ patients Australia New Zealand Negotiate Partnership 7 COMPLETE Opportunitie
Slide 12: Managing The Dynamic U.S. Situation
Managing The Dynamic U.S. Situation Two Years Into Generic Competition Total IPE Norm TRx Trend U.S. Business has Nov-20: Hikma launches icosapent Aug-21: Karim Mikhail appointed Sep-21: AMRN announces restructuring and focuses on Jun-22: $100mm cost reduction plan and revised Go- maintained a range
Slide 13: Amarin Has Delivered Cumulative $1BN Since Generic Launched
Amarin Has Delivered Cumulative $1BN Since Generic Launched and Has The Ability to Manage Profitability via Multiple Levers Ability to launch an authorized generic Ability to move to branded generic Further operating expense reductions AMARIN HAS THE ABILITY TO LEVERAGE ALL THREE TOOLS TO MAINTAIN U
Slide 14: ACC.23 VASCEPA/VAZKEPA Data Featured at Major U.S. Medical Meeting
ACC.23 VASCEPA/VAZKEPA DATA FEATURED AT MAJOR U.S. MEDICAL MEETING ORAL PRESENTATION Presented by Prof P. Gabriel Steg Benefits of Icosapent Ethyl in Patients With Recent Acute Coronary Syndrome (ACS): REDUCE-IT ACS Session 909 – Highlighted Original Research: Ischemic Heart Disease and the Year in
Slide 15: Fourth Quarter & Full Year 2022 Financial Results
02 FOURTH QUARTER & FULL YEAR 2022 FINANCIAL RESULTS Tom Reilly, CFO
Slide 16: Total Net Revenues $M
Full Year 2022 Preliminary Results Support Solid Foundation For Future Growth Q1 Q2 Q3 Q4 160 140 Stabilization Of U.S. Revenue Drives 120 Strong Performance Total Net Revenues $M • Fourth quarter 2022 total 100 net revenues were $90.2 80 million • Despite ongoing generic 60 competition, experienced
Slide 17: Operating Expenses 1st Half 2022 vs 2nd Half 2022
Operating Expenses 1st Half 2022 vs 2nd Half 2022 Approx. $55M Expense Reduction & Maintaining Stable Quarterly Revenue Total Operating Expense $M (excluding Stock Comp & Restructuring) 200 $183M 180 -30% Key Drivers: • Cost reduction plan delivers more 160 than $50M in savings to date • Investments
Slide 18: Significant Efforts Taken To Control Costs And Lower Cash Burn
Significant Efforts Taken To Control Costs And Lower Cash Burn 2022 Quarterly Cash Burn 20 0 Fourth Quarter Cash Flow Positive ~$4M -20 • Cash balance at 12/31 -40 approximately $310M • Significant progress -60 renegotiating supply purchase agreements - process ongoing -80 • Future cash investments
Slide 19: We Will Continue To Focus On Operational Excellence As Part Of Our Evolution
We Will Continue To Focus On Operational Excellence As Part Of Our Evolution FOCUS ON PROFITABILITY IN THE US Continue to anticipate and manage effectively to market dynamics MAINTAIN FINANCIAL DISCIPLINE Identify additional cost savings opportunities SEQUENCED INVESTMENTS IN GROWTH Staged investmen
Slide 20: Looking Ahead to 2023
03 LOOKING AHEAD TO 2023 Karim Mikhail, President & CEO
Slide 21: The Next Chapter: Geographic Expansion
The Next Chapter Becoming a Diversified, Global Cardiometabolic Player OPERATIONAL PORTFOLIO EVOLUTION DIVERSIFICATION GEOGRAPHIC EXPANSION Solid foundation entering growth and expansion period March 23 21
Slide 22: The Next Chapter – Becoming a Diversified Cardiometabolic Player
The Next Chapter – Becoming A Diversified Cardiometabolic Player 2023 KEY PRIORITIES Progress Continue Obtain additional Advance the Maintain all reimbursements to focus on regulatory development profitability to focus operational approvals of FDC and in the US on launching and partner explore excel
Slide 23: Ambitions
Leading a new paradigm in preventive cardiovascular care and growing our impact for patients globally AMBITIONS for
Slide 24: Thank You
Vascepa Vazkepa (icosapent ethyl) (icosapent ethyl) THANK YOU