AMRN · Amarin Corporation plc

Amarin's Q1 2026 results demonstrate the early success of its refined global business model adopted in mid-2025, particularly through the exclusive licensing and supply agreement with Recordati S.p.A. Total net revenue rose 7% to $45.1 million, with product revenue up 6% to $43.3 million led by higher international licensing and royalties (up 84%), offsetting a 9% dip in direct European sales during the transition to the partnered model. U.S. VASCEPA sales held steady at $35.6 million despite generic competition, supported by regaining exclusive status with a major PBM in Q3 2025 and a 17% increase in branded prescriptions versus Q1 2025, reflecting market share resilience. Operating expenses declined sharply 31% to $29.1 million, driven by the June 2025 Global Restructuring that cut SG&A by 42%, though partially offset by higher COGS from increased volumes and $3.3 million in restructuring charges. This led to a 32% narrower operating loss of $11.3 million and 33% reduced net loss of $10.5 million ($0.03 per share). Management highlighted positive cash flow for the second straight quarter, with cash rising to $307.8 million and no debt, on track for $70 million in cost savings. CEO Aaron Berg emphasized growth from Recordati's VAZKEPA launches in 10 European countries and supportive 2026 ACC/AHA guidelines expanding IPE's role in CV risk management. The company remains focused on shareholder value, working with Barclays on strategic options, positioning for sustained profitability in 2026.