Dallas, Texas 04/09/2014 (FINANCIALSTRENDS) – Amarin Corporation plc (ADR)(NASDAQ:AMRN) which is a Ireland based drug maker announced on 31st of March that it has tied up with Kowa Pharmaceuticals America, Inc to jointly promote its flagship “Vascepa(R) (icosapent ethyl)” Capsules in the U.S market. The two firm hope that thanks to this agreement, they will be able to combine resources to eventually double the number of sales calls that are currently happening to position Vascepa capsules, in addition to spending more on the marketing the drug across U.S.
The “Vascepa(R) (icosapent ethyl)” Capsules have been approved by the United States Food and Drug Administration to be used as a drug to reduce the level of harmful triglycerides in adults who are suffering from clinical condition called hypertriglyceridemia. The drug has to be used in conjunction with the diet prescribed by doctors.
The joint marketing agreement will help the sales force of both the bio tech firms to reach out to their respective client base in more frequency and in due course increase the number of target customers that the sales teams can meet to influence a sale. The deal envisages Kowa Pharmaceuticals America tasking its sales force of 250 medical representatives to promote the Vascepa capsule in addition to their regular product portfolios.
The joining of hands between Kowa and the 130 strong sales force of Amarin Corporation plc (ADR) (NASDAQ:AMRN) is expected to practically double the frequency at which the hospitals and cardio care health providers would be visited on primary and secondary touch point visits. The joint efforts to position Vascepa are scheduled to be kick started in May this year.
The agreement stipulates that Kowa Pharmaceuticals will foot the bill for sales costs related to “sample costs and cost of promotion which includes marketing materials.” Amarin Corporation plc (ADR)(NASDAQ:AMRN) will have full control on the marketing of the product and will be calling out the revenue generated by the sale of Vascepa, even when sold by Kowa medical reps.