AMRN - Earnings call transcript Q4 2017

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Operator

Welcome to Amarin Corporation's Conference Call to discuss its Financial and Operating Results for the Fourth Quarter and Full Year of 2017. This conference call is being recorded today, February 27, 2018. I would like to turn the conference call over to Elisabeth Schwartz, Senior Director of Investor Relations of Amarin. Please go ahead.

Elisabeth Schwartz

Thank you all for joining us today. Litigation this to will safe be by Private that that forward-looking harbor aware the intended are covered Securities be conference contain call statements provided Please Act. Reform under the expectations financial prescriptions timing likelihood gross regarding and our statements costs such our and licensing business. adequacy our performance, the of the agreement timing not our and Vascepa and but plans of expectations additional Examples margin, our inventories, expectations the regarding regarding regulatory international study of promotion Vascepa of of on commercial Vascepa co-promotion include, our our levels related revenues, metrics, goals expenditures regarding expansion wholesaler and current completion, purchase limited and review Vascepa, potential, other of success, are of cardiovascular of as resources, scope to, commercial extended current current for and and effects study and outcome plans including our our and financial positioning our product and our market of to preparation such supply on based information to February XX, us are XXXX. statements These today, available expectations We in plans or the actually out our carry our may or meet forward-looking achieve not intentions, our goals, statements. disclosed differ could events or results Actual materially.

on should circumstances update assume these you change. these statements place So undue no not reliance as We statements. obligation to

that other agreements into, may forward-looking mergers, Our material of impact may acquisitions, or statements do or not such terminate. as enter any joint potential transactions we enter, reflect significant the dispositions, amend ventures we

call. press the been the Factors are We Annual actual encourage the the Statement XXXX. December materially, see our XX, SEC Investor information concerning of Forward-Looking through to everyone our in not providing to promote These outside Vascepa website, for on slides for Investor and this Report Presentations, section Events the note amarincorp.com. documents and which its call. filed had of This the slides, results read XX-K could discussed the Risk updates to be Please today's at Amarin approved can the section to sub-category Relations in additional factors under differ of in also on and ended intended on intended and of website the these call our cause accompany year key are Relations is available Form For indication. is today's that section investors documents. morning's summarize use we section These please that found some release with amarincorp.com,

turn in call this the John and Thero, Investor of to Amarin. posted will the call again, Officer website, Executive Relations Amarin archive an will President Chief I Finally, the on over now be section. of

John Thero

today us end morning, we we last XXXX Thank XXXX. guided our are during at Good of of revenues provided record potentially the upper joining we revenue outcome everyone. trial, you the REDUCE-IT. guidance reported are we to landmark nearing Amarin's above Moreover, for completion level that today. and the cardiovascular

XXXX the in will net including This prescriptions. levels corresponding results about hard I million, net working revenue record REDUCE-IT XXXX. our REDUCE-IT will commercial $XXX.X $XXX.X important was Mike are talk report be towards the we having significant million of And In from a Amarin results, revenue We are for expansion total Vascepa. by XXXX, results revenue anticipation of product that million of will increase results. QX trial this we Vascepa after $XX.X supported achieved few upon XXXX Kalb preparing record mention end based positive. from in by further the sales highlights. product U.S. over to of

commercial a payments scientific positive publications. provided related million royalties Vascepa approval submitting Therapeutics We in proceeds partner And REDUCE-IT were for Vascepa flow partner in seeking yet. spending, finance of cash we via now and clinical within than that a We my partner that opportunities the our working are over also improved priorities guided trial QX. about commitment Vascepa will supported multiple XXXX we as cash in payments. excluding XXXX, interest excluding best results, XXXX. from XX are our focusing China XXXX, I which and will such included we and for you disproportionately East, address for before on And R&D such support Middle applications large to related in added talk the be for Supported the Eddingpharm. and Biologix, in while Canada. X flow REDUCE-IT as confident We reporting for for HLS results Rather end countries, to of commencement are our and our to having we year months $XX

be priorities of growth results, strategic proactive and remain and they revenues, demonstrated tactics safety solutions professionals payer these advance REDUCE-IT cholesterol. beyond and before cost lower completion Vascepa, therapies, study of becoming for through results contributed for basics the therapy important healthcare our reimbursement effectively their high positive executing leverage opportunistically. exercise promptly advanced. cardiovascular strategy, to on prepared in bad Overlaying earlier efficacy diet, caring results are REDUCE-IT's product risk successful intend in for Vascepa X foundational. in pursuing prioritizing this focus our Our practice our the from potential They of the have education Phase includes This physicians and and to generation grow operate results increasingly regarding that that patients XXXX. we XXXX, increasing to messaging build for and the who execution Commercially to and are are are and on preventative differentiating broad leveraging

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Craig Granowitz

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to Vascepa as that can abbreviated is MACE rate aim these Our patients. in of cardiovascular lower the events, adverse demonstrate major

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care statin associated that REDUCE-IT successful, preventative high Vascepa appropriate pain used with of of patients could and potentially not patients is the in help prevent could cost to could therapy it mention and our Such over with the course, cardiovascular to a benefit to such look now results. society learning path the of Steve? their huge results of to the conjunction I be Assuming loss, day one patients, at discuss study. families, much large, be REDUCE-IT benefit caregivers, Steve tens forward Amarin. millions in disease. I to turn to and very to

Steven Ketchum

Good appreciation I together morning, landmark REDUCE-IT outcome everyone. the research employees, in press in release, with express the involved sites Echoing of involved comments contract patients first tireless cardiovascular potential and want efforts the study. to for clinical Amarin's in consultants this today's my staff study, in

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which and this from in the While data clinical I In support of and genetic can epidemiological, it consistency basis Amarin's at numerous confidence. Relations for this gives my website studies the confidence data, publications. the study cite most the is the extensive results, which reference me Investor totality scientific data positive of we of section www.amarincorp.com,

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for We example in which are increased result Vascepa, drug unique in doesn't using bad a cholesterol.

biomarkers being of a its lipid, with using daily daily grams lower prolonged I have proud year. working Vascepa important lipoprotein safety cholesterol. and dose order a significant to at are other giving of performed study X this tolerability profile Omega-X use associated and and health to a in We X bad Vascepa net DHA has very supports you will The Vascepa or profile without results These from game-changing most mixed am a efficacy safety more differentiates is Omega-X such the to all but are of later of day so and I applaud mixed parties studies. cardiovascular researched factors study of using an differentiate these reduce it to other REDUCE-IT We gram incidence Other unique grams positive doses from the whether all parties this that the high look and therapies. reporting day. products do which be product. acids day have important potential REDUCE-IT cardiovascular than per the effect believe researching pure EPA fatty raising on help on a of and forward of events, We EPA prior attention will benefits to X are a or area.

Mike Financial now comment. me further the to Officer our turn Kalb, over Let Mike? call for Chief

Michael Kalb

you. thank Steve,

XXXX They discussion contain quarter call, on full this our at release fourth start both of in press I morning's including our annual website. report cover can XXXX prior and Form go call. today's mentioned XX-K the this of be found our some the four the of highlights and year quarters in detail, strong on beyond As resulted which will year. financial the All growth over quarters of corresponding results,

I in fourth our set quarter us quarterly net also mentioned $XXX.X will add million, year a revenue million. net that by to increasing increasing product high $XX.X to revenue XXXX product John full XXXX While to want for record

was of is promotion trial. are trial year based Guidance insurance demonstrated under amounts relative our they timing prescriptions deductible inability Vascepa for REDUCE-IT large flat. patients norms. growth to Accordingly, with REDUCE-IT encounter product by product growth. inventory but when the annual in quarters, we continued ending growth net approximately wholesaler seasonal significant emphasize approximately vary slow physicians With inventory Vascepa team. upon continuing the revenue measurement with evaluating to sales in increased XXXX consecutive of growth in Net of accurately for net to believe revenue the we shifts with to prior pricing continue flat to value XXXX to from our to On XXXX, that the particularly increase levels basis, predict and typical periods and was year. Vascepa million, from anticipate guidance medical measure as not fill this guidance were respect $XXX million an the with reduction XXXX volumes, anticipate anticipate such quarter-to-quarter, the Vascepa that better remaining We our relatively in plans. our prescriptions We reflects pricing their XXXX $XX of to QX be the to over or further we our wholesalers consistent levels the XXXX. because for Our the impact XXXX to each XXXX for corresponding called by industry United than of as in of Vascepa. that is continue by effects levels prescription generally of the growth compared complicated by on slower precise slightly It's current experience progress net quarter to Vascepa product fueled increase risk a of comparisons of results and States prescription increase year-over-year revenue of

revisit December revenue revenue to product margin and after ended from We of results Gross improved XX% XXXX. the for the full-year net will in this are guidance both the REDUCE-IT study known. QX XX,

volumes XXXX see of full-year sales and in and from for revenue XXXX, but gross million slight may anticipate the were $XXX.X much Selling, approach or the our margin until will margins the to respectively. increase little While non-cash which point million increase gross of QX most of full-year remain most changed administrative XXXX XXXX million net were gross of XXXX. $XX.X part XX% get XXXX we million, QX $X an we general levels At QX $XX.X product in could $X.X improvements higher. in some for These margin expense for remain $XX.X XXs. SG&A in are expenses include for expenses XXXX. million and over an expenses million, compensation SG&A likely

XXXX SG&A increased including and These XXXX increased primarily costs, REDUCE-IT prepare QX increased were of periods and expenses million commercial full-year the increases to non-cash activities, due results, following and these to successful for to spend legal in XXXX. corresponding promotional $X.X million $XX.X expansion Excluding the for costs. compared anticipated

XXXX, sales limited. to these sales XXX in anticipate force assuming had sales increased XXX sales will team move approximately days we study XXX promptly approximately we results, their hire, place from we XXX the REDUCE-IT require prescription most XXXX our that levels to of We which for to success, train XX on size After impact increase to to that and XXXX reps. For approximately reps, to added reps, Amarin deploy sales reps. of be is likely sales such planned

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of This tell-fee, fees the than XXXX. and installments of as expenses throughout amount of SG&A fee incentive the of continue to bored Kowa In over the is aggregate the less to Vascepa XXXX. as which but promote earned XXXX the be Kowa We a [ph], paid tell-fee in in term in will which part total agreement. XXXX XXXX, calculated full by include is co-promotion Kowa in actively Kowa owe addition, XXXX, for

at Research in a million. awareness expenses QX $XX.X XXXX cost costs These of as to an to were John subject costs likely R&D $X.X that XXXX respectively. and million to of compared over SG&A development result for our expenses to expenses variability. XXXX. $X.X $XX pilot decline million, $X.X $XX and for our earlier, Vascepa and approximately XXXX R&D full-year were and SG&A or expenses XXXX. addition, $XX.X million of are initiative million $X.X million a quarterly the to the million, and of Overall, QX for described full-year include XXXX remain million increase In XXXX compensation R&D QX non-cash increase

related and million Most robust for decreased increased final Excluding patients and these after these in corresponding the In variability and until preparing at on intended population study offset REDUCE-IT results, and their in reporting XXXX Realized between the $X.X of the are from $XX the level of of be published. full-year evaluated support REDUCE-IT. we study of results R&D to for visits per XXXX, expenses in anticipated the spending non-cash compared to likely first ever continue is anticipate million costs, presentation XXXX. periods study the based million of and $X.X being with XXXX generally This other pertain large patient by of and to completed variable timing to the $XX of quarter. QX REDUCE-IT publication study spending costs be activities. savings expenses of levels is risk expenses study R&D to R&D activities the to to continue complete million

XXXX taxes Amarin of As incurred majority provision the $XX income million, of in which a previously guided, non-cash. was for

the $XX.X REDUCE-IT December believes cannot to the product XXXX. more respects, by million approximately of favorable Amarin promotion. in determine completed transaction Amarin of augmented throughout the in XX, cash million. amount reported additional equivalents XXXX, end the balance to which, of it results The February resources quarter from extent XXXX. financing anticipated was be Vascepa our congress projected net before following some at REDUCE-IT sufficient these that capital best XXXX of fund proceeds the of approximately from expand be to $XX an through spend In results REDUCE-IT determined. of needed currently This results equity assuming the the of a the cash on operations As will which and will REDUCE-IT, study available to are positive is company anticipate subsequent before the third study, the public be results end promotion of greater that we such may if any, presentation may the results and be as medical

During affairs and the be incurred R&D prior supply-related for costs other REDUCE-IT period results. REDUCE-IT mostly interest, in REDUCE-IT of positive that to net cash for positive, excluding and royalties and is XXXX medical expenditures results, company the to flow preparation payments expects

exceeding will prior results QX seen certain vary cash QX, including, QX these However, XXXX. XXXX in to the quarter, net from continue annual result outflows which to years, in payments quarter those in will impact of as likely in

$XX.X the over As had before I'll remarks. inventory. million to $XX.X John turn of call receivable, receivable for net also in million reserves accounts gross accounts million in closing and in XX, and XXXX, December now allowances back the John? company $XX.X

John Thero

take Thank thank their great our our employees you, Mike. contributions. to to support this I opportunity want shareholders and your for for

amount considerable and to do read Overall, the XXXX a REDUCE-IT up know a work the out have We to I year. the and of before challenge. terrific is team was after

would expectation way. that, be look will We even the along forward comments XXXX With an prepared some have conclude you Operator? line We questions. year. to to our the updating we and that to like open better every

Operator

Chen question Cantor a Thank Louise [Operator you, sir. At be comes Instructions] this Please from time, of first ahead. question-and-answer we'll session. go today conducting Fitzgerald. Our

Jennifer Kim

the it hit hits do can doesn't any think and in I Thanks. a you REDUCE-IT hits XXXX different or Louise. is the this it fast And you here. but Jennifer My how you scenarios, few the after uptake possible if one taking my second, doesn't for endpoints? can some have quickly if mind Thanks for on results what for be? secondary secondary Hi, primary revenue forecast in so Kim it if then endpoints endpoint, first REDUCE-IT do hit it have ranges question. is ramp up how

John Thero

designed primary number, in risk regard into is relative when for do we this which study, question, as reduction [ph] number for bit do given success constitute, Do or study which possible - we little hit first With population. possible. John. with higher the the questions. those] - lower can XX% is because which will little equally this what we Thanks we assume around? your it's it is a that and just point good end the does This ever the morning. gets success is maybe a have Jennifer, third with hit the to hit [power significance, preparing trial the first a question, we're in hit with it with

of risk grow we scenarios, reduction. really trying under think promotion. XX% that which I underlying be within relative say, subgroups a think versus the for of Vascepa XX% subgroups will of within, by and the first level substantially But reduction this think suggesting there but us positions revenues XX% without the magnitude how by of unique reduction be that grow will that's And for results, have of the relative relative level. is the a than really relative don't will at risk because our risk the knowing details profile Could support predict But we of very the pleased that top-line if rate success heavily relative key. heavily reduction. are impacted looking also argue ever therapy the data have a here. considerable there will of is in of be risk of versus, importance. results promotion we it some It any those XX% we impacted level think our risk greater The other the We a is our reduction I relative support considerable diabetic - the do we risk XX% reduction. study could what's the to all at combination. results know, We're deal different some

scenarios So are this those what point giving guidance quantified in at we not on time be. might

where of we'll concentrated. have of it's have endpoint that scenarios, described endpoint. but results we all, tens we terms like There the not the and are We'll Again, in we assessment look scenarios of think see to in hit our with the It's not But of as unexpected millions really difference primary backups all-or-nothing for medical focus expecting. results the and triglycerides what that's are to kind that patients. we're some for up. conditions is of those we hit where not multiple we patients study. before this primary is these broad given elevated In - the can reason, don't provide not end where

intend it have reps. assuming and When it congress the move those tend takes ramp-up, then get the data we of end this in we our reps, And reps that towards to sales parallel. positive, we of a hopefully terms to possible. sales those All hire sales sales don't will have are the We quickly. the move very it to train intend medical before relatively expanding quickly out and And results the quickly is team. they to of think public for on to year. of Once deploy speed out publication In our results results, will as get be about happening of presentation days quickly as to we aim we sit to we results long. at XX

our promotional to of of to those we upon which other label, are second scenarios the We'll upon you that referenced expand results you're range increase we the program. not results decide can from advertising pilot going based promotions. quantifying the the and not for will magnitude to be campaign label, degree better kinds difficult the in you be results. because those which increasing we accelerated fine-tune, of we're we until the in quickly. Those before of have some terms will I key pilot quarter, are of done wish can that program. will our see one see changing that pilot we're hope promotion. to through have that kinds But be promotional current a But want media the guidance the on We of of types That's And those the television the on here be to that's able which and off we Those very itself. in initially feedback label of doing of the to the predict. - spend that will helpful. would better pilot can based to to of pretty why appreciate launching we be spend, quickly those increase promotions be our effectiveness reasons comments

Jennifer Kim

No, definitely. Thank you.

Operator

Our of next from go Beatty question ahead. Joel Citi. Please comes

Joel Beatty

morning congratulations good Hi, and revenue growth. the on

regards that the do physicians and marketing could to with The we If wait the you expect messages are population some to change label prescribe first guidelines take to or marketing the to say, right the right anticipate we results should in for, results do could it could Or is ramp prepare program. before the revenue successful, those it away question a results? see regards change time up to away? incorporate REDUCE-IT REDUCE-IT with

John Thero

Thanks morning. the for question. good Joel,

opinion field reports So huge and as at are anticipate, think risk we if the part preventative of of physicians communication care results, leaders in we public, cardiovascular event. hopefully mean, the saying that amongst I for for and general of patients what are advance key they're this the robust as as regardless a is that,

news We'll sure attention that that to we're spread relations efforts, try independent - that what hope doing. people to public pay make paying we through aren't will certainly attention. So

about disclosures to studied. have As are study. been our has conducted, yet specifics study a part we of we statement and as be hasn't The how caveats to updates that have updating part there that we outcome that messaging haven't nature been been are current of has reviewed But of cardiovascular of disclosures conducting there our those outcome our worked the results messaging. the By update out. the it we said those extent messaging will FDA. studied, to Certainly, be our current is promotion it some would Vascepa, that of still by been an a will certain doing required of include

- sNDA a make that an to do de we of the to to until final extent we'll have to is those results the Many depends are the as study. right be submitted, Again, results be which got in of sort quarter, update. we intimate fourth scientific the before will label we those which to with required with do do seeking expansion. after facto provide that these involved determination will see Certainly, with wait members have of providing ensure broad way, expanded label results. we provide aware to the there would during process interacting is that it's after that the the after societies, what interested in they And We degree have of wait updates. And we to and REDUCE-IT see. setting be the certainly societies those the can are update the in some guidelines upon we we're of to do doing we'll in REDUCE-IT and of expansion, published some study until very results guidelines it's

will which pace be to well. we interacting will that move have But they the at groups. early with seen those as and will be often So

Joel Beatty

that typically, question. is you perspective we decrease the a a follow-up in and sales. think for And your one bit I mentioned - then early of little bit Okay. little It see in year a that Thanks a seeing you for that might what and the look But you've could to dynamics, the comparable even rebound into go talk and to if remarks. they in for like? that, prepared expect Thanks. you seen years it's you about Vascepa what previous

Craig Granowitz

Sure.

In our this reported be Joel, particularly it'd January, trends of part to our this - and soft. looked guidance. that in in at be we we you is historically, referenced, product. soften our is found the seasonal months in So - seen trends sort - particular, differences We February QX, Historically, on of our have the as timeframe. relatively results part

seems they treated their what As cholesterol, all What not fill be for the therapies bill to used popular under increasingly up and really six or at be end lot back be more. five sudden on the of events. who insurance if have this may they prescriptions. $X,XXX, into they and $X,XXX, sick year to of they're coming for it hypertensive, to previous And They're diabetic, patients five prescriptions $XX with elevated - $XX time. they There go a of different beginning choosing, of may it of beginning are patients, point each they six that filled prescriptions for $X,XXX. the are for plans deductibles or And of patients. are year, each. patients to a They patients back Vascepa $X,XXX the that in or bill very often picking coming be with many They relates them tend got and are just cardiovascular had insurance they've Vascepa.

fill, something fill. not like they conditions, are pain they something a may medication they're asymptomatic choose going limited to financially to if for And

they're conditions true in just patients those scripts So to ever consumer are Vascepa the see mean tend that for this important, is money. rebounds this We've we in where doesn't asymptomatic year their fill many prescriptions. They and spending make choices to and for particularly those drugs Vascepa, and on not drugs, for in have seen then QX. March particularly

in we a from urged it year-over-year that the have then that million opposed to a basis, that have as first quarter be which about rebounding more in consecutive probably $XX between in will our people a in guidance about we suggests we've modeling quarter year million thinking they're revenues will fact the investor and basis they perspective million the And quarter, quarter that in to provided lower. provided second range. of guidance. revenues, our somewhere as talked $XX an the first that or $XX to revenues this So for we record We've think

year-over-year Sometimes surprised and been than still exist things into disappointed people it's people is when consecutive are a QX rebounds want basis on back why roaring in very is great. QX strong lower bit and They're - had basis in pass. on QX, who and a for it to a it

something in for But So done, in not I'm of not the is have XXXX. those specific scripts and providing on year. I'm past. QX the we've we that guidance it in that here guided seen sort to that here any so have QX off I past is week the this we seen to week - not path think is trends giving of

the for question. thanks So

Joel Beatty

you. Thank Okay.

Operator

question Jefferies. Matthew Please is from ahead. Andrews next Our of go

Roger Song

Thank question. for is Matt. This the Song you Roger taking for

year. revenue record the on congratulations So

So one we REDUCE-IT. have two it questions, I to leave first the the

So final from I provided know after the as detailed Steve analysis the study. a for the revisits plan pretty

the each So the visit after can step regarding more you us study? just some give timeline final the about color from

Craig Granowitz

good and not with cetera, lots this patients. it is analysis any get of study, you study, And that we Roger, Meetings still to including Investigator it to on pooling data of to blood to you're living up is that there those That's see et missing We of - you're here clinical with get the challenge, got were are what data. sites that to the up, us to that of work, final they results a very is is very or talking to you're of inconsistencies reports about REDUCE-IT that roll know - there are. early. the until data clinical to final to the rolled to did next just data bringing all you what those into a area pieces and of are he's reports of focus. chasing. study. missing. also and early all that starting identify Steve not XX,XXX have sitting see work you collected. you years of morning. intentionally the tries patients end the lot need don't exactly And database, big from interim back reports But when be in patient clean different important here be I sure over that to and data some are you're give recognized I'm of sort it reviews enthused coming and data. mean, until it have study up you But the But reads were on with to try accurate, some whether at sites the data is whether all and Obviously, clinical meeting lot a followed confirm is to be challenge that patients Ketchum, this And missing. that with done remaining cleaned, that unique got if where to A study, sites you've a all many many for in. just get is

till variable getting to is trying pieces, patients again, up a get very variable the find, a how providing providing stragglers, are the don't there between or the then make ourselves all time are then CRO key in. final to data experienced time you doesn't the until that them the clinical patients, start we missing sites in, you, the to data and for to lot know you chase exactly we're cleaned to Amarin missing. the the that visits So and It rolled relative on we our all together key see and do to all those get sure have But get it's and having what our until data. And locked and locked getting through coming and and instructions means the of patients this.

here based and holes timeframe - getting the are studies find work filling upon multi-national we we other in the the But needs but experience key of that timeline real in. to from time it multi-year, cleaning is locked. be there CRO, until patients final to and but events believe that rolled that's to large our in, done. holes, can't parallel, getting whether and amount based Getting be dating the So is data their it, done, we - studies. the adjudication we've small getting or of a guidance the the the lot patients' of piece. of In for outlined is is is is database data this up rolled up done the work of the assess be a that's there ample chased getting large, data the and upon But

Roger Song

Sure. That's very helpful.

annual price approximately increase have is, So about question you my X%. second historically taken

how can So If payers? push increase? you positive back if any, much of from you take believe reduces without kind do larger price

Craig Granowitz

statins risk, side. LDL to and multiple also while But still from A, LDL that we've we're the seen market, really one think cardiovascular care to is what, or that. it's So example. trying that coverage, from worked statin who really get tens lowering affordable. residual high benefit better think significant when with But been is replace which in there We we've where therapies - fact and say, believe There our slightly of of now the lowers been therapies, drugs $XX And I statin major results question managed it of such not have billion, we that statin the because, in our care $XX are think as could there to first are millions it opportunity. lowering billion, that too have good we doing A, be branded you advance that context a been we're today other haven't the to, trying hasn't that for price - advances below and, is that addressed on Lipitor preventative our payer we have potentially without a PCSKX and, if dissimilar major Vascepa successful. studies going since by of to for seen grew it unlike, can introduced we coverage. we've we're foremost managed And the But is care actually cholesterol a to opportunity - have was PCSKXs, therapy. were, B, B, volume our And patients do. we're pricing brought that a already

have back our fee, wholesaler for that has years. through generally generally pricing You're the increases now last Those price given of then couple and net price flat rebates right; been taken have annual we increases. such

without in the seen primary this growth. point the REDUCE-IT And this of to thought do of that plan a will be volume price. is continue look this Will a driver our been volume is at at price? we growth we'll we as growth on Our story. having results, volume the anything our at Sure, think after a And going And price, not at of time. success driven. to look has our we it the be for be that's we'll story. volume extent we sort to as really driven. a I and But evaluate But volume time to believe story

Roger Song

very That's helpful. you. it, it. Thanks Got

John Thero

Roger. Thanks,

Operator

questions back no are like time. call to over the this John closing additional for at There I'd turn Thero to remarks.

John Thero

very parallel, Have hard to Exciting times towards Folks, months working we that. REDUCE-IT X believe as day. thanks to here forward are we your than We business. great And our appreciate People updates continue to a going and we support. move grow here. to In again. results. Less that commercial interest we're look providing you forward.

Operator

This concludes today's conference.

for time. participation. disconnect may at your this You Thank you lines your

Amarin (AMRN) 27 Feb 182017 Q4 Earnings call transcript