Drug Price Trends for VASCEPA

Average Pharmacy Cost for VASCEPA

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
VASCEPA 0.5 GM CAPSULE	52937-0003-40	1.66107	EACH	2024-09-18
VASCEPA 1 GM CAPSULE	52937-0001-20	2.83659	EACH	2024-09-18
VASCEPA 1 GM CAPSULE	52937-0001-20	2.83686	EACH	2024-08-21
VASCEPA 0.5 GM CAPSULE	52937-0003-40	1.66163	EACH	2024-08-21
VASCEPA 1 GM CAPSULE	52937-0001-20	2.83655	EACH	2024-07-17
VASCEPA 0.5 GM CAPSULE	52937-0003-40	1.66157	EACH	2024-07-17

Market Analysis and Price Projections for VASCEPA

Introduction to VASCEPA

VASCEPA, also known as icosapent ethyl, is a prescription medication primarily used to reduce the risk of stroke and heart attack in individuals with high triglyceride levels, especially those already taking statins. Here’s a detailed analysis of the market and price projections for VASCEPA.

Market Dominance and Revenue Share

VASCEPA is anticipated to hold a significant revenue share in the omega-3 prescription drugs market. By the forecast period, the Vascepa segment is expected to account for around 47.7% of the market revenue. This dominance is largely due to its established preference for reducing cardiovascular risks and its unique formulation based on highly purified EPA, which has been approved by the FDA[1].

Distribution Channels and Market Dynamics

The retail pharmacy segment is projected to hold more than 52.3% of the omega-3 prescription drugs market share by 2037. This is driven by the increasing convenience and accessibility of prescription drugs from retail settings, as well as the growing adoption of e-prescriptions and telehealth services. The approval of plant-based omega-3 products by regulatory bodies, such as the European Commission, further supports the sales of omega-3 prescription drugs in retail pharmacies[1].

Pricing Without Insurance

The cost of VASCEPA without insurance is substantial. A one-month supply of 120 1-gram capsules can cost around $461.78, translating to approximately $15 per capsule. This results in an annual cost of about $5,504 at full retail price. However, prices can vary depending on the source and any available discounts or coupons. For instance, using a SingleCare coupon can reduce the cost to less than $70 for a 30-day supply[2][5].

Impact of Generic Versions

The introduction of generic versions of VASCEPA has significantly impacted its pricing. Following the FDA approvals of generic versions in 2021, the price per capsule decreased by about 20%, from $2.80 to $2.20. This reduction resulted in total savings of $150 million annually, given the high volume of nearly 580 million capsules dispensed each year[3].

Insurance Coverage and Cost Savings

Insurance coverage plays a crucial role in making VASCEPA more affordable. Four out of five people with commercial health insurance and 19 out of 20 with Medicare Part D or Medicare Advantage plans have coverage for VASCEPA. For insured patients, copay prices vary by plan, but many plans cover VASCEPA with a generic prescription drug deductible[2].

Strategic Developments and Market Expansion

Amarin Corporation, the manufacturer of VASCEPA, has been focused on expanding its geographic reach and enhancing its market strategy. Collaborations, such as the exclusivity agreement with Neopharm for the commercialization of VAZKEPA in Israel, are aimed at strengthening the company's international presence. Additionally, Amarin is advancing the development of a fixed-dose combination of VASCEPA with a statin, further diversifying its product portfolio[1][4].

U.S. Go-To-Market Strategy

In the U.S., Amarin has continued to expand provider engagement through digital efforts, increasing branded VASCEPA prescriptions. The company has also focused on managed care access, expanding coverage to approximately 45% of total commercial and Medicare Part D lives on a weighted average basis as of March 31, 2022. However, the impact of generic competitors and deductible resets under patient insurance plans have affected sales volumes and pricing strategies[4].

Financial Performance and Projections

Despite the challenges posed by generic competition and deductible resets, Amarin remains committed to its vision of reducing heart disease globally. The company reported a total net revenue of $94.6 million for the first quarter of 2022, down from $142.2 million in the corresponding period of 2021. The decline was partly due to a decrease in volume and selling price adjustments. Amarin is optimistic about its future growth, driven by ongoing strategic initiatives and the compelling outcomes from the REDUCE-IT study[4].

Key Takeaways

• Market Dominance: VASCEPA is expected to hold around 47.7% of the omega-3 prescription drugs market revenue.
• Pricing: Without insurance, VASCEPA costs approximately $461.78 per month, but can be reduced with coupons or generic alternatives.
• Generic Impact: Generic versions have reduced the price per capsule by about 20%, resulting in significant cost savings.
• Insurance Coverage: Wide coverage under commercial and Medicare plans makes VASCEPA more accessible to insured patients.
• Strategic Expansion: Amarin is expanding its market reach and product portfolio through collaborations and new product developments.

FAQs

What is VASCEPA used for?

VASCEPA is used to reduce the risk of stroke and heart attack in individuals with high triglyceride levels, especially those already taking statins.

How much does VASCEPA cost without insurance?

A one-month supply of VASCEPA can cost around $461.78 without insurance, translating to approximately $15 per capsule.

What is the impact of generic versions on VASCEPA pricing?

The introduction of generic versions has reduced the price per capsule by about 20%, from $2.80 to $2.20, resulting in total savings of $150 million annually.

How can patients save money on VASCEPA?

Patients can save money by using coupons, such as SingleCare, or by considering generic alternatives. Buying in bulk through certain pharmacies can also reduce costs.

What are the strategic initiatives by Amarin to expand VASCEPA's market?

Amarin is focused on expanding provider engagement, enhancing managed care access, and developing new products, such as a fixed-dose combination of VASCEPA with a statin.

Sources

1. Research Nester, "Omega-3 Prescription Drugs Market Market Analysis", September 20, 2024.
2. SingleCare, "How much is Vascepa without insurance?", February 1, 2022.
3. FDA, "Estimating Cost Savings from New Generic Drug Approvals in 2021".
4. Amarin Corporation, "Amarin Reports First Quarter 2022 Financial Results and Provides Business Update", 2022.
5. NorthWestPharmacy, "Why is Vascepa So Expensive? (& How to Save Money)", April 6, 2023.