olivLaw · US equity research
Amarin Corporation plc AMRN
Pharmaceutical Preparations · SIC 2834 · Vertical: Pharmaceutical Preparations (SIC 2834)
Amarin is a pharmaceutical company focused on cardiovascular health, commercializing VASCEPA and VAZKEPA (icosapent ethyl) to reduce cardiovascular risk. In 2026 it is completing a shift to a fully partnered international model, as quarterly revenue fell under generic pressure in the U.S. while operating costs dropped sharply.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Amarin Corporation plc (AMRN) stock was 12.25 USD (+1.66% on the day), with market capitalisation 4.7 m USD, beta 0.83, 52-week range 11.32–16.98 USD. Latest reported quarter (Q3 2026): revenue of 39.6 m USD (−20.4% YoY), net income of 245.0 k USD, diluted EPS 0.00 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.6
- neutral
- Bollinger (20, 2)
- 11.10 – 12.66
- in the upper half of the band · %B 0.74 · band width 13.2%
- SMA 50 / 200
- 12.86 / 14.27
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.14 / -0.26
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +1.3% | −1.1% | +2.4 pp | — |
| 3 months | −15.0% | −0.5% | −14.5 pp | — |
| 6 months | −17.8% | +4.4% | −22.2 pp | — |
| Year to date | −12.2% | +12.3% | −24.6 pp | — |
| 1 year | −19.4% | +13.5% | −33.0 pp | +19.3% |
| 3 years | −16.1% | +76.4% | −92.5 pp | +13.0% |
| 5 years | −85.0% | +63.7% | −148.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 62.3 m | 42.0 m | 72.7 m | 49.7 m | 49.2 m | 45.1 m | 42.2 m | 39.6 m |
| Gross profit | -9.6 m | 25.1 m | 50.4 m | 22.2 m | 23.2 m | 17.8 m | 15.0 m | 16.2 m |
| Research & development | 6.0 m | 5.3 m | 4.9 m | 4.2 m | 5.4 m | 4.7 m | 4.8 m | 4.2 m |
| SG&A | 37.0 m | 36.6 m | 38.7 m | 19.7 m | 20.1 m | 21.1 m | 22.2 m | 14.3 m |
| Operating income | -52.5 m | -16.8 m | -16.0 m | -11.1 m | -6.3 m | -11.3 m | -12.0 m | -2.4 m |
| Pre-tax income | -49.9 m | -13.6 m | -13.5 m | -8.1 m | -852.0 k | -8.7 m | -7.9 m | 315.0 k |
| Income tax | -1.3 m | 2.1 m | 689.0 k | -377.0 k | 372.0 k | 1.8 m | -219.0 k | 70.0 k |
| Net income | -48.6 m | -15.7 m | -14.1 m | -7.7 m | -1.2 m | -10.5 m | -7.7 m | 245.0 k |
| Diluted EPS | -0.12 ≈ | -0.04 | -0.03 | -0.02 | -0.00 ≈ | -0.03 | -0.02 | 0.00 |
| Operating cash flow | -13.3 m | -12.5 m | 16.6 m ≈ | -12.7 m ≈ | 15.3 m | 6.4 m | 6.6 m ≈ | 9.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 229.2 m | 429.8 m | 614.1 m | 583.2 m | 369.2 m | 306.9 m | 228.6 m | 213.6 m |
| Revenue YoY | +26.6% | +87.5% | +42.9% | −5.0% | −36.7% | −16.9% | −25.5% | −6.5% |
| Net income | -116.4 m | -22.6 m | -18.0 m | 7.7 m | -105.8 m | -59.1 m | -82.2 m | -38.8 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | −1,468.9% | unavailable | unavailable | unavailable |
| Diluted EPS | -0.39 | -0.07 | -0.05 | 0.02 | -0.26 | -0.15 | -0.20 | -0.09 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | −1,400.0% | unavailable | unavailable | unavailable |
| net % | -50.8% | -5.3% | -2.9% | 1.3% | -28.7% | -19.3% | -35.9% | -18.2% |
| Free cash flow | -94.8 m | -11.8 m | -22.0 m | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 134.7 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 459.3 m USD
- Total assets
- 670.8 m USD
- Debt / equity
- unavailable
- Current ratio
- 3.34x
- ROE
- -8.2%
- ROA
- -5.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 614.1 m | 583.2 m | 369.2 m | 306.9 m | 228.6 m | 213.6 m | SEC (XBRL)· 02 Mar 2026verified |
| Cost of revenue | 131.4 m | 121.3 m | — | — | — | — | SEC (XBRL)· 01 Mar 2022verified |
| Gross profit | 482.6 m | 461.9 m | 242.5 m | 165.5 m | 81.4 m | 120.9 m | SEC (XBRL)· 02 Mar 2026verified |
| Research & development | 39.0 m | 29.3 m | 30.4 m | 22.2 m | 20.9 m | 19.8 m | SEC (XBRL)· 02 Mar 2026verified |
| SG&A | 463.3 m | 408.3 m | 304.4 m | 199.9 m | 152.3 m | 115.0 m | SEC (XBRL)· 02 Mar 2026verified |
| Operating income | -19.7 m | 10.5 m | -105.9 m | -67.6 m | -91.8 m | -50.2 m | SEC (XBRL)· 02 Mar 2026verified |
| Interest expense | 2.6 m | 129.0 k | 15.0 k | 8.0 k | 7.0 k | 7.0 k | SEC (XBRL)· 02 Mar 2026verified |
| Pre-tax income | -17.3 m | 11.3 m | -103.8 m | -53.7 m | -77.2 m | -36.0 m | SEC (XBRL)· 02 Mar 2026verified |
| Income tax | 745.0 k | 3.6 m | 2.0 m | 5.4 m | 5.0 m | 2.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Net income | -18.0 m | 7.7 m | -105.8 m | -59.1 m | -82.2 m | -38.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Diluted EPS | -0.05 | 0.02 | -0.26 | -0.15 | -0.20 | -0.09 | SEC (XBRL)· 02 Mar 2026verified |
| Weighted average diluted shares | 381.8 m | 402.5 m | 401.2 m | 407.7 m | 410.9 m | 415.0 m | SEC (XBRL)· 02 Mar 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 187.0 m | 219.5 m | 217.7 m | 199.3 m | 121.0 m | 134.7 m | SEC (XBRL)· 02 Mar 2026verified |
| Receivables | 154.6 m | 163.7 m | 131.0 m | 133.6 m | 122.3 m | 126.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Inventories | 188.9 m | 234.7 m | 228.7 m | 258.6 m | 166.0 m | 195.9 m | SEC (XBRL)· 02 Mar 2026verified |
| Current assets | 879.2 m | 878.7 m | 689.1 m | 725.0 m | 595.4 m | 649.9 m | SEC (XBRL)· 02 Mar 2026verified |
| Property, plant & equipment, net | 2.0 m | 1.4 m | 874.0 k | 114.0 k | 16.0 k | 12.0 k | SEC (XBRL)· 02 Mar 2026verified |
| Intangibles (excl. goodwill) | 13.8 m | 23.5 m | 21.8 m | 19.3 m | 16.4 m | 13.4 m | SEC (XBRL)· 02 Mar 2026verified |
| Total assets | 966.0 m | 1.1 bn | 886.2 m | 831.7 m | 685.3 m | 670.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Accounts payable | 105.9 m | 114.9 m | 64.6 m | 52.8 m | 40.4 m | 45.4 m | SEC (XBRL)· 02 Mar 2026verified |
| Short-term debt | 0 | 0 | — | — | — | — | SEC (XBRL)· 01 Mar 2022verified |
| Current liabilities | 307.4 m | 370.7 m | 259.5 m | 259.3 m | 179.9 m | 194.5 m | SEC (XBRL)· 02 Mar 2026verified |
| Total liabilities | 338.5 m | 401.0 m | 290.8 m | 279.6 m | 199.2 m | 211.5 m | SEC (XBRL)· 02 Mar 2026verified |
| Equity | 627.5 m † | 667.1 m † | 595.3 m † | 552.1 m † | 486.2 m † | 459.3 m † | SEC (XBRL)· 02 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -21.7 m | -66.5 m | -180.1 m | 6.9 m | -31.0 m | 6.7 m | SEC (XBRL)· 02 Mar 2026verified |
| Capex | 252.0 k | — | — | — | — | — | SEC (XBRL)· 25 Feb 2021verified |
| Free cash flow | -22.0 m ≈ | — | — | — | — | — | SEC (XBRL)· 25 Feb 2021derived |
| Investing cash flow | -377.0 m | 104.1 m | 175.3 m | -25.5 m | -46.0 m | 8.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Financing cash flow | -58.9 m | -5.1 m | -379.0 k | 230.0 k | -1.4 m | -2.0 m | SEC (XBRL)· 02 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 25.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 4.7 m USD
Key indicators
Coverage and freshness
Score by group
25% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -10.9% | 44 (vs peers) | 25% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -16.7% | 0 (on a fixed band) | 33% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -4,575.6x | 0 (on a fixed band) | 25% |
| Current ratio · Balance sheet | 3.5x | 100 (on a fixed band) | 17% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial44/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
AMARIN CORP PLC\UK (AMRN). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 213.6 m USD in 2025; YoY growth -6.5%; net margin -10.9%; ROE -4.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 3.5x
What contradicts it
- Revenue CAGR 3Y: -16.7%
- Interest coverage: -4,575.6x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Pharmaceutical Preparations (SIC 2834) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LLYEli Lilly And Company | 1,334.0 bn | 46.0 | 86.1% | 31.9% | +44.7% | +32% / +140% |
| JNJJohnson & Johnson | 665.2 bn | 41.9 | 20.0% | 16.2% | +6.0% | +34% / +79% |
| ONCBeone Medicines Ltd. | 558.4 bn | 869.9 | 14.7% | 10.7% | +40.2% | +11% / +102% |
| ABBVAbbVie Inc. | 521.1 bn | 50.7 | — | 15.7% | +8.6% | +29% / +107% |
| MRKMerck & Co., Inc. | 370.7 bn | 154.7 | 5.1% | 3.6% | +1.3% | +43% / +47% |
| ABTAbbott Laboratories | 200.1 bn | 43.0 | 9.2% | 9.7% | +5.7% | −10% / +11% |
| PFEPfizer Inc | 175.5 bn | 43.9 | 4.4% | 6.3% | −1.6% | +20% / +1% |
| VRTXVertex Pharmaceuticals Inc | 139.2 bn | 35.3 | 20.8% | 30.7% | +8.9% | +27% / +55% |
| BMYBristol-Myers Squibb Company | 131.2 bn | 14.2 | 44.1% | 18.5% | −0.2% | +30% / +30% |
| TEVATeva Pharmaceutical Industries Limited | 48.8 bn | 97.4 | 6.6% | 3.6% | +4.3% | +56% / +326% |
| ZTSZoetis Inc. | 36.9 bn | 14.7 | 64.4% | 27.5% | +2.3% | −30% / −50% |
| ROIVRoivant Sciences Ltd. | 27.6 bn | — | -6.2% | -3,535.0% | −71.6% | +84% / +300% |
| RPRXRoyalty Pharma plc | 26.2 bn | 47.7 | 6.9% | 25.7% | +5.1% | +69% / +150% |
| UTHRUnited Therapeutics Corporation | 25.9 bn | 23.0 | 19.1% | 38.6% | +10.6% | +25% / +154% |
| INSMInsmed Inc | 24.1 bn | — | -72.5% | -39.9% | +66.7% | −47% / +340% |
| VTRSViatris Inc. | 22.1 bn | — | -23.6% | -23.9% | −3.0% | +80% / +109% |
| ALNYAlnylam Pharmaceuticals, Inc. | 21.6 bn | 8.1 | 126.6% | 52.8% | +65.2% | −64% / −4% |
| TGTXTg Therapeutics, Inc. | 9.4 bn | 22.5 | 100.3% | 55.2% | +87.3% | +85% / +381% |
| AMRNAmarin Corp Plc\uk | 5.2 bn | — | -4.2% | -10.9% | −6.5% | −19% / −16% |
| BLRXBioLineRx Ltd | 4.9 bn | — | -12.8% | -171.7% | −95.9% | −46% / −97% |
| BHCBausch Health Companies Inc. | 3.1 bn | — | — | -7.6% | +6.7% | +31% / +17% |
| ANABAnaptysbio, Inc. | 1.4 bn | 11.5 | — | 82.4% | +157.0% | +71% / +404% |
| KURAKura Oncology, Inc. | 677.0 m | — | -167.7% | -384.3% | +25.2% | −37% / −21% |
| DMACDiaMedica Therapeutics Inc. | 580.8 m | — | -114.6% | — | unavailable | +25% / +341% |
| PHATPhathom Pharmaceuticals, Inc. | 461.7 m | — | — | -30.2% | +216.9% | −64% / −19% |
1- and 3-year price returns: for AMRN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
In brief
Amarin is a pharmaceutical company focused on cardiovascular health, commercializing VASCEPA and VAZKEPA (icosapent ethyl) to reduce cardiovascular risk. In 2026 it is completing a shift to a fully partnered international model, as quarterly revenue fell under generic pressure in the U.S. while operating costs dropped sharply 123.
SWOT
Strengths
- The company has a product approved by several authorities, backed by a cardiovascular outcomes trial that showed a significant risk reduction, supporting VASCEPA's position in cardiology 1.
- The U.S. market share rose in 2026 and the company remains debt free, giving it financial flexibility 3.
- The international partnership model reduces the need for its own commercial structures and gives access to more markets 13.
Weaknesses
- The company depends heavily on a single product, and revenue fell in the first half of 2026 compared with the prior year 13.
- U.S. sales are under pressure from generic competition and falling net prices, which directly affects main revenue 13.
- The company has reported operating losses in the past and has not yet shown consistent profitability 13.
Opportunities
- Rising demand in partner markets, especially China and Europe, could support licensing and royalty revenue 3.
- Approvals and launches in Asia and the rest of the world could expand the patient base outside the U.S. 3.
- If partner agreements secure favorable reimbursement, European sales could become a more stable revenue source 1.
Threats
- New generics or new clinical data that question the product could affect its perception and commercial prospects 1.
- Pressure from governments and insurers on prices could limit patient access in several countries 1.
- Dependence on third parties for manufacturing, distribution and partnerships exposes the company to delays or partner failures 1.
Risks
- Dependence on VASCEPAhigh
Most revenue comes from VASCEPA, so any negative development for the product would directly affect the company's financial position 1.
- Generic competition in the U.S.high
Continued generic pressure on net price and volume in the U.S. could reduce main revenue 13.
- European reimbursementmedium
Commercial success in Europe depends on reimbursement obtained country by country, a process that is slow and hard to anticipate 1.
- Dependence on partnersmedium
International commercialization relies on third-party partners, and any problems on their side could affect revenue and reputation 1.
- Litigation and regulationmedium
The company is involved in litigation and investigations, and regulatory changes could affect its operations 1.
Investment thesis
What would need to be true (bull case)
- If demand in partner markets keeps growing, licensing and royalty revenue could offset the decline in U.S. sales 3.
- Operating costs much lower after restructuring could support sustained positive cash flow if the trend holds 3.
- The U.S. market share and the absence of debt could provide stability during the transition to the new business model 3.
What would break the thesis
- If U.S. revenue keeps falling under generic pressure, the company could remain dependent on a small revenue base 13.
- Slow reimbursement in Europe could limit sales growth outside the Recordati partnership 1.
- The company has not yet shown consistent profitability, and operating losses could continue if revenue does not grow 13.
What to watch
- Trend of U.S. revenue and the IPE market shareQ3 2026
- First comparable Recordati European sales figuresQ3 2026
- Pace of launches in Singapore and South Korea2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
The business
Amarin Corporation plc is a pharmaceutical company focused on commercializing and developing therapeutics that improve cardiovascular health and reduce CV risk 1. Its main product, VASCEPA (icosapent ethyl), was approved by the FDA in July 2012 for the MARINE indication, and in December 2019 received the REDUCE-IT indication based on its cardiovascular outcomes trial 1. In Europe the product is sold as VAZKEPA, approved by the European Commission in March 2021 1. Total net revenue for Q2 2026 was 42.2 million USD, down 42% year over year, mainly because of a 25 million USD up front payment from Recordati in the prior-year quarter 3.
The company operates in one business segment and supplies VASCEPA to all markets where the branded product is sold, including markets promoted by third-party partners 1. In the U.S. it sells principally to a limited number of major wholesalers, which resell to retail pharmacies 1. The company remained debt free as of June 30, 2026 3.
In June 2025 Amarin entered an exclusive long-term license and supply agreement with Recordati for the development and commercialization of VAZKEPA in 59 countries focused in Europe 1. The global restructuring plan has now been completed, and it was designed to reduce operating costs by approximately 70 million USD per year 13.
Market context
Trends
- Generic competition in the U.S.headwind
Several generic versions of icosapent ethyl have been on the market since 2020, and net price pressure is affecting U.S. sales. If the number of generics grows, U.S. revenue could keep declining 13.
- Rising international demandtailwind
Demand in partner markets is growing quickly, VAZKEPA is sold in several European countries, and approvals in Asia are advancing. If this continues, licensing and royalty revenue could stabilize 3.
- Price and reimbursement pressureheadwind
Health systems in many countries focus on reducing drug costs, which may limit access and sale prices 1.
- Operating efficiency after restructuringmixed
After the global restructuring, operating expenses fell significantly and the company reports positive cash flow for three consecutive quarters. If these results hold, profitability could improve 3.
Competitive position
In the U.S. Amarin competes with several generic makers of icosapent ethyl that received FDA approval and entered the market from 2020 1. The company says it maintains a strong presence in the IPE market, with a 48% share in Q2 2026 3.
Outside the U.S., competition comes from generic products and other cardiovascular treatments, and pricing and reimbursement competition varies from country to country 1. Regional partnerships are part of the company's competitive strategy 1.
- Hikma Pharmaceuticals USA Inc.
generic icosapent ethyl maker with FDA approval that entered the U.S. market after the ANDA litigation
- Dr. Reddy's Laboratories
generic icosapent ethyl maker with FDA approval and U.S. launch in 2021
- Teva Pharmaceuticals USA
generic icosapent ethyl maker with FDA approval, active in the U.S. market
- Recordati
exclusive partner commercializing VAZKEPA in Europe, responsible for reimbursement and new approvals
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report28 Oct 2026
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report29 Jul 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Current report15 May 2026Shareholder vote
- Quarterly report29 Apr 2026
- Current report29 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement10 Apr 2026
- Current report27 Mar 2026Departure or appointment of officers · Financial statements and exhibits
- Annual report02 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Amarin Corporation plc · 02 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Amarin Corporation plc · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Amarin Corporation plc · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.