Amarin Surges After Drugmaker Says Heart Pill Sales Are Booming

(Bloomberg) -- Amarin Corp.’s American depositary receipts surged to their highest intraday price since March 12 after the drugmaker said that its new heart pill was selling faster than projected and that it plans to double the size of its sales force.

The company now expects 2019 revenue to be $380 million to $420 million, up from a May 1 prediction of $350 million. Amarin will also increase its sales force to approximately 800 people, it said in a statement Tuesday.

The success of the heart drug, called Vascepa, had at one time made the Dublin-based company the subject of takeover speculation.

“We have great confidence in our ability to successfully market and sell Vascepa in the U.S. on our own,” Chief Executive Officer John Thero said in an email to Bloomberg.

The depositary receipts were up 13% to $21.79 at 1:01 p.m. in New York, after rising as much as 14%.

Vascepa is approved for sale in the U.S. to lower patients’ triglyceride levels. Triglycerides are a type of fat in the blood, and too high a level can increase the risk of heart disease and stroke.

The company has asked the U.S. Food and Drug Administration to let it market Vascepa as helping reduce the risk of cardiovascular events, following a successful clinical trial. The FDA’s decision is expected by late September.

To contact the reporter on this story: Myah Ward in New York at mward174@bloomberg.net

To contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy Annett

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