Amarin Q3 revenue falls 20% on US pricing pressure

Overview

• Cardiovascular drug maker's Q3 revenue fell 20% yr/yr, mainly due to lower U.S. sales

• Company posted first quarterly profit in over two years after cutting operating expenses

• Operating expenses dropped 44% yr/yr following cost savings initiatives

Outlook

• Company expects U.S. volumes to remain broadly stable for rest of 2026

• Company expects sequential growth in global partner market demand

• Amarin sees partner-led revenue growth dependent on market access, pricing, and ordering patterns

Result Drivers

• EUROPEAN DEMAND - Co said in-market demand for VAZKEPA in Europe rose 68% yr/yr, driven by partner Recordati's execution and investment

• U.S. PRICING PRESSURE - U.S. sales fell 30% yr/yr due to lower net pricing and continued generic competition

• API PURCHASING TERMS - Lower cost of goods sold attributed in part to more favorable API purchasing terms

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", no "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Amarin Corporation PLC is $12.00, about 0.4% above its October 27 closing price of $11.95

Reuters Recommended Reads

• Oct 27 - Novartis books $2.2 billion hit from drug trial setbacks, but lifts guidance

• Oct 27 - Novartis slightly misses Q3 net sales estimates, but tops core EPS view

• Oct 27 - Pharming Group Q3 revenue rises on US demand; tightens guidance

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)