Amarin Corporation plc (NASDAQ:AMRN) and Lotus Pharmaceuticals (1795:TT; “Lotus”)  announced that the two companies have entered into a long-term exclusive partnership to distribute and commercialize VAZKEPA^® (icosapent ethyl) across 10 countries, including nine in Southeast Asia (the Association of Southeast Asian Nations - ASEAN) and South Korea.

VAZKEPA capsules have been approved and commercialized in a number of global markets, including the U.S. and European markets, as the first prescription treatment comprised solely of the active ingredient, icosapent ethyl, a highly purified form of eicosapentaenoic acid (EPA).

"We are excited to announce this exclusive partnership with Lotus, a leading pharmaceutical commercialization partner in Asia,” said Patrick Holt, President & CEO, Amarin. “Lotus’ strong commercialization capabilities and footprint across ASEAN markets and South Korea make them the ideal partner to help us expand patient access to VAZKEPA -- an innovative treatment option to reduce cardiovascular risk -- across the region and fuel our international growth.”

Petar Vazharov, Chief Executive Officer of Lotus, commented, "We are thrilled to embark on this strategic partnership with Amarin. This agreement aligns seamlessly with Lotus' strategic objective to bring novel and transformative treatments to patients and allows us the opportunity to further leverage our commercial infrastructure that we have built in key markets across Asia."

The ASEAN region and South Korea includes a total of 14 million statin-treated patients representing a total hyperlipidemia market of approximately $2 billion.ⁱ The largest markets within the ASEAN region include Thailand, Malaysia and Philippines.ⁱ Cardiovascular disease (CVD) remains the leading cause of morbidity, mortality, and health care costs in South Korea.ⁱⁱ

Under the terms of the agreement, Lotus will have exclusive rights to distribution and commercial promotion for VAZKEPA in South Korea and nine countries in ASEAN: Brunei, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. As part of the agreement, Amarin will receive an upfront payment as well as pricing and reimbursement and sales milestone payments based on net sales of the product. Amarin will be responsible for supplying finished product to Lotus at a pre-defined supply price.