Amarin Corp. (AMRN) Tops Q3 EPS by 1c, Beats on Revenues
Amarin Corp. (NASDAQ: AMRN) reported Q3 EPS of ($0.04), $0.01 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $47.1 million versus the consensus estimate of $45.9 million.
Key Amarin achievements since June 30, 2017 include:
- Product revenue growth: Recognized $47.1 million in U.S. net product revenue from Vascepa® (icosapent ethyl) sales in Q3 2017 compared to $32.4 million in Q3 2016, an increase of 45%.
- U.S. prescription growth: Increased normalized prescriptions for Vascepa by 44% compared to Q3 2016 based on data from both Symphony Health Solutions and QuintilesIMS.
- R&D progress: REDUCE-IT, Amarin’s potential landmark long-term cardiovascular outcomes study, progressing towards completion with results expected to be reported in less than a year (before the end of Q3 2018).
- International: Partnered with HLS Therapeutics to commercialize and distribute Vascepa capsules in Canada.
- Management: Appointed Mark W. Salyer to new position of Chief Commercial Officer to build on the company's recent revenue growth and lead future global commercial expansion plans and execution.
For earnings history and earnings-related data on Amarin Corp. (AMRN) click here.