Amarin sees 2019 sales at or slightly above upper-end of $410M-$425M guidance - InvestingChannel

Amarin sees 2019 sales at or slightly above upper-end of $410M-$425M guidance

Amarin disclosed last night that 2019 net total revenue, subject to audit, is expected to be at or potentially slightly above the upper-end of the company’s previously expressed guidance of $410M to $425M. The consensus revenue estimate is $421.05M. Net total revenue consists predominantly of U.S. sales driven by increased prescriptions for Vascepa. Wholesaler inventory levels of Vascepa were within normal industry ranges at the end of 2019, the company added. Amarin ended 2019 with approximately $645M in cash, approximately $117M in net accounts receivable and approximately $76M in inventory. Amarin ended 2019 with no debt except the remaining balance on its royalty-bearing instrument which is repaid at a rate of 10% of Vascepa revenue until this royalty-like obligation is fulfilled. Shares of Amarin are down 30c to $19.78 in premarket trading.