Amarin In Co-Promotion Deal With Kowa For U.S. Sales Of Vascepa Capsules

(RTTNews) - Biopharmaceutical company Amarin Corp plc (AMRN) Monday announced a co-promotion deal with Kowa Pharmaceuticals America Inc for its flagship product, Vascepa capsules in the U.S.

Vascepa is approved for use in the U.S. as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia. Vascepa was launched by Amarin in early 2013 and the drug chipped in with net sales of about $26.4 million.

Amarin said the deal provides for the near-term expansion of Vascepa promotional efforts through use of Kowa's sales force to augment both the number of sales targets reached and the frequency of sales calls on existing sales targets.

While Kowa will pay for certain incremental costs associated with the use of its sales force that are associated with the commercialization of Vascepa, Amarin will continue to control marketing of the product and recognize all revenue from sales of Vascepa.

Amarin stock closed Monday at $1.81, down $0.05 oe 2.69%, on a volume of 1.3 million shares on the Nasdaq. In after hours, the stock gained $0.08 or 4.42% at $1.89.