Amarin Corp plc (AMRN) Misses Q1 EPS by 3c
Amarin Corp plc (NASDAQ: AMRN) reported Q1 EPS of ($0.14), $0.03 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $25.3 million versus the consensus estimate of $26.77 million.
Amarin's continued year-over-year revenue growth resulted primarily from increased volume of Vascepa prescribed, with the number of physicians prescribing Vascepa and rate at which they do so both increasing.
Normalized prescriptions (estimated) for the first quarter of 2016, based on data from Symphony Health Solutions and IMS Health, totaled approximately 201,000 and 214,000, respectively. These prescription levels represent growth of approximately 55% and 56%, respectively, compared to the same quarter in 2015. As has been true in the first quarter of prior years for Vascepa and many other drugs, product revenue and prescription growth were impacted by the reset of patient deductible amounts for many healthcare plans at the beginning of the calendar year which negatively affect prescription refills by patients at retail pharmacies.
For earnings history and earnings-related data on Amarin Corp plc (AMRN) click here.