Amarin rides sales hot streak on the heels of Vascepa label expansion
Vascepa received its FDA approval as a heart-helping addition to statins in December. (Amarin)
Amarin scored a massive win last month after the FDA approved its fish-oil derivative Vascepa as a heart-helping addition to statins, potentially setting the drug up for blockbuster sales. With the future bright, Amarin is already touting sales that are beating analysts' consensus––and it could be a sign of major things to come.
Amarin said it would meet or top its fourth-quarter sales guidance of $410 million to $425 million just weeks after its label expansion, the company said Tuesday.
Not only that, Vascepa is already tracking well ahead with sales that are "extremely strong and well north of consensus," according to Jefferies analyst Michael Yee. With the drugmaker planning to double its sales force to 800 in the coming months and a direct-to-consumer advertising campaign in the works, Amarin could continue to outpace Street estimates in the coming year, Yee said, putting the drugmaker's value somewhere in the $12 billion range.
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"This remains one of the strongest launch drugs we've seen in the biotech industry and hence we think 2020 sales will also look good," Yee wrote in a Tuesday note to investors.