Recordati acquires rights to cardio med from Amarin

Italian pharma major Recordati (RECI: MI) today announced a licensing and supply agreement with Amarin (Nasdaq: AMRN) to commercialize the marketed cardiovascular medicine, Vazkepa (icosapent ethyl), across 59 countries, focused in Europe.

Vazkepa is indicated to reduce the risk of cardiovascular events in statin-treated adult patients at high cardiovascular risk with elevated triglycerides and either established cardiovascular disease or diabetes with at least one other cardiovascular risk factor.

In return, Recordati will pay Amarin an upfront cash payment of $25 million. Amarin will supply finished product to Recordati and is eligible to receive royalties for the supply of the product under the terms of the agreement and commercial milestones up to a total of $150 million if annual revenues for Vazkepa in the territories in scope exceed certain sales thresholds starting from € 100 million. Amarin’s shares rose 10% to $13.93 on the news.