Amarin Corporation plc, a leader in preventative cardiovascular risk reduction therapy, announced actions in support of public health initiatives to combat the COVID-19 pandemic.
The COVID-19 pandemic is a significant threat to public health throughout the world. WHO, many countries, and the majority of states in the United States have recently declared emergencies and implemented strategies designed to contain spread of the virus through social distancing and other methods. Social distancing at the early stages of a pandemic is critical to stem the trajectory of disease proliferation. In support of social distancing, public officials have taken numerous actions: international travel has been restricted, schools have been shut down, public events have been cancelled and group gatherings have been minimized. These steps are being taken to minimize personal interaction as much as possible to stem disease spread and “flatten the curve”. In the field of pharmaceutical marketing, increased social contact, such as interactions between sales representatives with healthcare providers, has the potential to counter-act these important public health initiatives and to put our employees and people in doctors’ offices at unnecessary risk.
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Accordingly, as Amarin is intently focused on improving public health by reducing cardiovascular risk, currently the most damaging disease in the industrialized world, and consistent with our corporate values, we have announced immediate suspension of field based face-to-face interactions for the next two weeks, until Monday, March 30th. To directly support patient care, Amarin plans to continue to provide digital and internet-based educational materials and copay cards and will continue to ship samples. It is too early for the company to assess the impact of the COVID-19 pandemic and these actions on Amarin’s revenue growth and previously reported revenue guidance. Such actions follow reports in early March of record prescription levels, and record new prescription levels, for VASCEPA® (icosapent ethyl). We understand that other pharmaceutical companies are taking similar actions. We will continue during this period with non-personal promotion initiatives and use some of the time for further training of our field personnel. We will continue to monitor the situation and provide updates at an appropriate time.
“As a company focused for more than a decade on fighting cardiovascular disease, which in the United States alone results in one stroke, heart attack or death every 14 seconds, we are determined to do our part to protect public health and the health of our many valued employees,” said John Thero, president and chief executive officer of Amarin. “We have developed a roadmap of remote working activities for us to continue to help many patients with persistent cardiovascular risk, including using virtual customer tools to maintain contact and enhanced sales training. Our efforts are designed to do our part to help reduce the spread of COVID-19, protect the health of our employees and their families and preserve healthcare resources at a critical interim period for those most in need and, ultimately, to save lives. We applaud the dedication and efforts of healthcare professionals internationally as they prioritize their own efforts to address the public health crisis presented by COVID-19. And, we express our condolences to everyone who is suffering from this pandemic. We will work to continue our diligent efforts to bring to healthcare professionals and the public our contribution to improved treatment of cardiovascular risk, which is not only an enormous and growing medical issue worldwide but also a leading factor of increased risk to those infected by COVID-19.”
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In addition, the company responded to questions regarding whether its supply chain for Vascepa is likely to be significantly impacted by COVID-19. Amarin’s supply chain is diversified and therefore mitigates geographical risks. None of Amarin’s manufacturing is conducted in China. Furthermore, Amarin has built significant stockpiles of VASCEPA in the United States. VASCEPA is reported to be available in pharmacies throughout the United States and similarly available in other countries where it is approved for sale. From the information that is currently available, Amarin does not believe coronavirus will have a major impact, if any impact, on its ability to supply VASCEPA to support its growing business.
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