Amarin's Q2 2025: Key Contradictions in U.S. Market Share, International Growth, and Pricing Trends

U.S. market share and volume expectations, international market growth and strategic partnerships, U.S. net price trends, European market penetration expectations, U.S. volume and net price trends are the key contradictions discussed in Amarin Corporation plc's latest 2025Q2 earnings call.



U.S. Business Performance:
- Amarin's U.S. business reported net product revenue of $36.5 million in Q2, a 17% decline from the prior year, primarily due to pricing pressure from generics.
- Despite the decline, the company maintained a stable market share of 43% at quarter-end, retaining all major exclusive accounts.

European Market Expansion:
- Product revenue in Europe reached $6.6 million in Q2, almost double the prior year period, driven by growth in Spain and the U.K.
- The growth in Europe is attributed to strategic partnerships, market access expansion, and the transition of commercialization to Recordati.

Partnership and Restructuring Impact:
- Amarin's licensing and royalty revenue was $26.1 million in Q2, up 31% from the prior year, reflecting the impact of the Recordati upfront payment and strong end-market demand from partners.
- The company initiated a global restructuring, expected to result in $70 million in operating expense savings over the next 12 months.

Global Partner Growth:
- Rest of World markets contributed $3.5 million in product revenue in Q2, significantly higher than the prior year period, driven by partner purchases and market access expansions.
- The growth in these markets is supported by partners' commercialization efforts and regulatory approvals, such as South Korea's recent approval for VASCEPA.

Financial and Operational Strengthening:
- Amarin ended Q2 with $298.7 million in cash and investments and no debt, positioning the company on an accelerated path to positive cash flow.
- The strategic actions taken, including the Recordati partnership and restructuring, have strengthened Amarin's financial foundation and operational efficiency.