Amarin Strikes Licensing Deal with Recordati for European Commercialization of Vascepa

Amarin Corporation has entered into a significant licensing agreement with Italian pharmaceutical company Recordati to commercialize its flagship product, Vascepa, in Europe. The deal, announced on June 24, 2025, marks a strategic shift for Amarin as it seeks to revitalize sales of its fish oil-derived heart medication amid declining revenues in the United States.

Deal Structure and Financial Terms

Under the terms of the agreement, Recordati will pay Amarin an upfront sum of $25 million for the rights to market Vascepa, known as Vazkepa in Europe, across 59 European countries. The deal also includes potential milestone payments of up to $150 million, contingent on meeting specific annual sales targets, as well as supply-based royalties.

This partnership allows Amarin to leverage Recordati's established presence in the European market, particularly in the cardiovascular space. Recordati, a century-old pharmaceutical company, derives approximately 25% of its revenue from its cardiovascular portfolio, making it a strategic fit for Vascepa's commercialization.

Amarin's Strategic Restructuring

The licensing agreement comes as part of Amarin's broader restructuring efforts aimed at streamlining its global operations and strengthening its financial position. The company expects to save $70 million over the next 12 months as a result of this deal and related organizational changes.

Amarin CEO Aaron Berg emphasized the company's proactive approach, stating, "We're sharpening our operational focus by restructuring the organization, which positions the company for greater future financial performance." Berg also indicated that the company remains open to additional strategic opportunities to drive shareholder value.

Market Challenges and Opportunities

Amarin's decision to partner with Recordati comes in the wake of significant challenges in the U.S. market. The company's revenue peaked at $614 million in 2020 but has since declined sharply, with 2024 sales reported at $229 million. This downturn is largely attributed to generic competition in the U.S., which began just three months after Vascepa received an expanded FDA label for cardiovascular risk reduction.

Despite these setbacks, Amarin sees potential for growth in Europe, where Vazkepa maintains patent protection until 2039. The company has struggled to gain traction in the European market on its own, reporting only $4 million in European revenue for the fourth quarter of the previous year.

Berg acknowledged the difficulties of entering the European market, particularly for a single-product company, stating, "Even the biggest companies are challenged launching products in European countries. It's particularly difficult for a one-product company with no established infrastructure to start and build from scratch."

The partnership with Recordati aims to overcome these hurdles by leveraging the Italian company's extensive experience and established presence in the European cardiovascular market. As Amarin looks to stabilize its financial position and explore new growth opportunities, this licensing deal represents a significant step in its evolving global strategy.