In antitrust suit, Hikma says Amarin locked up exclusive supply deals to shut out Vascepa generics

In the midst of Amarin’s activist investor blowout with Sarissa Capital Management, the company has a new battle brewing.

In a new antitrust suit, generics maker Hikma has accused Amarin of “deliberately and meticulously” locking up the supply icosapent ethyl in an attempt to block generic competition. Icosapent ethyl is the active ingredient in Amarin's only drug, Vascepa.

Hikma and Amarin have a long history. After the generics company filed an FDA application for its Vascepa copycat in 2016, a patent suit levied by Amarin kept the competing product off the market until 2020.

As Hikma prepared for its generic launch, the company realized that Amarin had “carefully and purposely" inked a web of exclusive supplier contracts, the lawsuit says. These deals blocked the generics company from securing needed supplies for its launch, Hikma claims.

Amarin made no secret of its plan, according to the lawsuit. In 2013, the company publicly said its goal was to "protect the commercial potential of Vascepa to beyond 2030 through a combination of patent protection, regulatory exclusivity, trade secrets and by taking advantage of manufacturing barriers to entry."

To keep its hold on the market, Hikma claims Amarin inked exclusive agreements with five API suppliers. The agreements, which Hikma calls a “calculated effort,” ensured that suppliers wouldn’t provide icosapent ethyl to any other companies in exchange for Amarin purchasing certain minimum amounts.

Amarin even agreed to pay cash to maintain its exclusivity if it couldn't meet the minimum purchase thresholds, according to Hikma's suit.

For its part, Amarin said it "does not comment on pending or active litigation."

For Amarin, the lawsuit comes as the company tussles with activist investor Sarissa Capital Management over board control. The fight has intensified in recent months, with Sarissa claiming the company's current leadership "is wasting a uniquely valuable opportunity." Sarissa hopes to get more representation on the company's board, but Amarin said it has gone through a board refreshment process over the last year.