Milestone payments are so low AMRN knows already they won't sell much V down under - and WTF is "selling at a profitable price"? Typically it's "tiered royalties" - so what we have here is AMRN makes $20/script regardless of whether there are 50 or 50,000 total scripts ($20 picked out of thin air, but I'll bet it's close) instead of 8% on scripts 50-5000 and 15% for scrips > 5k. Perhaps that has something to do with Australia's drug cost reimbursement system, but it's not normal - can't be arsed to look up HLS's agreement for Canada, but I know it's nothing like this one.
DUBLIN, Ireland and BRIDGEWATER, N.J. and MELBOURNE, Australia, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN) and CSL Seqirus today announced that the two companies have entered into an exclusive license and distribution agreement under which Amarin will license exclusive rights to VAZKEPA to CSL Seqirus to secure pricing and reimbursement and commercialize the product across Australia and New Zealand.
"We are excited to announce this agreement with CSL Seqirus in Australia and New Zealand, a world-class licensing partner for pharmaceuticals,” said Karim Mikhail, President & CEO, Amarin. “CSL Seqirus’ highly experienced market access and commercialization teams in Australia and New Zealand are well-positioned to support the pricing and reimbursement efforts, particularly with their strong record in successfully supporting pharmaceutical benefits listings, and eventual marketing and promotion for VAZKEPA and help us to deliver this important medicine to patients in these countries."
According to the Australian Institute of Health and Welfare (AIHW), approximately 1.3 million patients in Australia have established cardiovascular disease (CVD)i and approximately 75% are currently treated with a statin.ii CVD and diabetes are health priorities in NZ. Māori and Pacific peoples have a high incidence of CVD and diabetes and experience significant inequity in both access to medicines and clinical outcomes.
Under the terms of the agreement, CSL Seqirus will in-license VAZKEPA
from Amarin and will be responsible for market access and reimbursement
efforts, distribution, and commercial promotion for VAZKEPA across
Australia and New Zealand. Amarin will receive an upfront payment and be
eligible for event-related milestone payments of up to approximately $8
million and additional product-related milestone payments of up to
approximately $4 million. Amarin will be responsible for supplying
finished product to CSL Seqirus at a profitable transfer price paid to
Amarin.
