In a press release issued on January 4, Amarin (AMRN) projected net total revenues in the range of $224 million to $228 million for fiscal 2018, which is a YoY rise of 24% to 26%, or $43 million to $47 million. The company has also forecasted net total revenues of $72 million to $76 million for the fourth quarter of 2018.
According to the press release, the majority of the revenue rise in fiscal 2018 was thanks to increased demand for Vascepa in the US market, while less than $1.0 million in revenues have been earned from ex-US markets. The company says inventory levels of Vascepa with wholesalers are in the normal industry range at the end of fiscal 2018.
According to the press release, Amarin expects its net total revenues to be around $350 million for fiscal 2019, a YoY rise of over 50%. The company plans to leverage the robust results from the cardiovascular outcomes study, REDUCE-IT, to further increase adoption of Vascepa in fiscal 2019. The company, however, doesn’t expect dramatic changes in managed care coverage for Vascepa in 2019 as compared to 2018.
Wall Street estimates
Wall Street analysts expect Amarin to report revenues of $220.60 million in fiscal 2018, a YoY rise of 21.81%. The company is also expected to report revenues of $370.03 million in fiscal 2019, a YoY rise of 67.74%. Wall Street analysts have forecasted Amarin’s fiscal 2020 revenues to be $573.23 million, a YoY rise of 54.92%. Wall Street analysts have projected Amarin’s revenues to be close to $68.68 million in the fourth quarter of 2018, a YoY rise of 27.49%.
In the next article, we’ll discuss the earnings growth prospects of Amarin in greater detail.