Amarin announces exclusive license, supply agreement with Recordati

Amarin (AMRN) announced that the Company has entered into an exclusive long-term license and supply agreement with Recordati (RCDTF) to commercialize VAZKEPA across 59 countries, focused in Europe. This Agreement capitalizes on the early-stage success of VAZKEPA in Europe by partnering with Recordati to accelerate the depth and reach of the product for patients at-risk of a cardiovascular event. As a result of the Agreement, Amarin will streamline its global operations, which further strengthens the Company’s financial position. Under the terms of the Agreement: Recordati will be responsible for commercialization of VAZKEPA in Europe. Amarin will receive: Upfront cash of $25 million and milestone payments totalling up to $150 million contingent upon Recordati achieving predefined annual commercial net sales levels; Supply-based revenues, including royalties for the supply of the product under the terms of the agreement