Release Date: July 31, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: In the US, what is our outlook for continued stabilization in VASCEPA US revenues against additional generic competition? And what's the plan for renewing exclusive contracts for 2025? A: Aaron Berg, Executive Vice President, President - US: Despite the loss of a major commercial exclusive plan, we believe branded VASCEPA will remain the market leader. The majority of our exclusive volume is in Medicare Part D plans, which are not impacted by this loss. We have submitted competitive offers for 2025 and received positive feedback, but it's too early to predict coverage status. We are also prepared to launch an authorized generic if necessary.
Q: Can you share more on the market conditions impacting the decision not to commence share repurchases? A: Tom Reilly, Chief Financial Officer: We did not commence share repurchases due to business and market conditions. We are monitoring cash generation in the US and progress in Europe, which will impact our cash position and the viability of the share repurchase program.
Q: Do we have an update on a potential delisting from NASDAQ and would we consider a reverse split to increase the share price? A: Tom Reilly, Chief Financial Officer: We received notice of potential delisting from NASDAQ, but the process could take up to 360 days. We are considering operational opportunities to regain compliance and are evaluating the pros and cons of a reverse stock split to increase shareholder value.
Q: With the rise of obesity drugs, has metabolic disease education and marketing been easier with physicians in gaining higher adoption rate for VASCEPA in your target markets? A: Aaron Berg, Executive Vice President, President - US: The rise of obesity drugs has heightened awareness of cardiovascular risk reduction, which aligns with VASCEPA's benefits. However, we face a share of voice challenge due to our smaller size compared to companies marketing obesity drugs. We focus on educating the right customers about VASCEPA's clinical data.
Q: Can you comment on when your partner in China expects potential inclusion in the NRDL, and what is the market opportunity there? A: Aaron Berg, Executive Vice President, President - US: We hope VASCEPA will be included in the NRDL by January 1, 2025. The cardiovascular risk reduction market in China is significant, with a potential market size of $300 million. Our partner, Eddingpharm, is working towards this inclusion, which would significantly expand access.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.