Amarin outlines Go-to-Market strategy to accelerate VASCEPA growth » 09:1809/2209/22/21
Amarin Corporation outlined its new Go-to-Market strategy to accelerate growth of VASCEPA in the United States, which focuses on expanding healthcare professional engagement through a new omnichannel platform, enhancing managed care access and optimizing VASCEPA prescriptions for cardiovascular risk reduction. Expanding Healthcare Provider Engagement: Amarin's omnichannel approach will enhance the Company's reach to healthcare professionals, targeting a far greater number of the almost 700,000 statin prescribers through high frequency, tailored and impactful messaging regarding the significant benefits of VASCEPA for CV risk reduction. Consistent with this model, Amarin will optimize its U.S. field force and focus on the most productive territories. This will result in a reduction of Amarin's U.S. field force to approximately 300 sales representatives who will remain a critical part of the Company's commercial strategy going forward. Amarin will reinvest the realized net savings towards its expanded educational and promotional efforts. Enhancing Managed Care Access: Amarin will continue working with payers to enhance its strong managed care position and further remove barriers to VASCEPA prescriptions to ensure that patients in need of CV risk reduction receive proper therapy. Importantly, several large Commercial and Medicare Part D payers currently cover VASCEPA as the exclusive icosapent ethyl product due to its cost-effectiveness. Optimizing VASCEPA Prescriptions for CV Risk Reduction: Today, branded VASCEPA remains the only available U.S. Food and Drug Administration approved IPE medication for CV risk reduction. To prevent improper generic substitution for this indication, Amarin is continuing to aggressively educate critical stakeholders in the prescribing continuum to ensure proper fulfillment at each step. Additionally, Amarin is evaluating various innovative solutions designed to better manage IPE prescriptions for CV risk reduction.
Medicare insurers drew $9.2B in questionable payments, WSJ reports » 06:4309/2209/22/21
UNH, CI, HUM, WLP, HNT, AGP, CNC, HS, WCG, MOH
Medicare insurers drew…
Medicare insurers drew $9.2B in federal payments in one year through controversial billing practices and 20 of those companies benefitted disproportionately, accounting for more than half of the total, Anna Matthews of The Wall Street Journal reports, citing federal health investigators. This is the latest sign of the growing scrutiny of Medicare Advantage insurers, which offer private plans under the federal benefit program. The inspector general of the Department of Health and Human Services' issued a report focusing on how there are certain procedures used by insurers to document health conditions, which then helps determine how much they are to be paid, but the findings raise concerns that insurers may be abusing the system to improperly boost federal payments. Among the 20 companies in the report, one company received $3.7B, while only enrolling 22% of Medicare Advantage customers, according to the report. Although the report did not name the company in question, federal data compiled by analysts at BMO Capital Markets shows the enrollment share matches closely with UnitedHealth (UNH), the Journal said. Publicly traded companies in the healthcare insurance space include CIGNA (CI), Humana (HUM), Well Point (WLP), Health Net (HNT), AMERIGROUP (AGP), Centene (CNC), Healthspring (HS), WellCare (WCG), Molina (MOH). Reference Link
Centene call buyer realizes 99% same-day gains » 08:0009/2009/20/21
Notable profits for the…
Notable profits for the buyer who lifted the $1.32 offer for 2,559 Centene (CNC) Oct-21 65 calls yesterday at 10:28ET when underlying shares were trading at $62.03. Shares closed at $64.64, and the calls at $2.62 for a mark-to-market profit of 99%, or $333K, on the $337K outlay.
|Over a week ago|
Centene call volume above normal and directionally bullish » 13:2509/1709/17/21
Bullish option flow…
Bullish option flow detected in Centene with 10,370 calls trading, 3x expected, and implied vol increasing almost 10 points to 40.20%. Oct-21 65 calls and Sep-21 62 calls are the most active options, with total volume in those strikes near 5,600 contracts. The Put/Call Ratio is 0.24. Earnings are expected on October 26th.
Centene up 2% after Gordon Haskett discusses Humana trip to St. Louis » 10:3309/1709/17/21
Shares of Centene (CNC)…
Shares of Centene (CNC) are up $1.05, or 2%, to $62.64 in early trading after Gordon Haskett's head of event-driven research, Don Bilson, discussed in a note to investors sent before the open his tracking of flight data related to Humana (HUM). In his note, Bilson stated in part: "Today's mention centers on St. Louis where Humana looks to have dropped someone off on Monday and then picked someone up on Wednesday... Though HUM flies a lot, we haven't seen it in St. Louis recently and there is one very obvious target that calls the 'Gateway to the West' its home." Centene's corporate headquarters is located in St. Louis, Missouri.
Amarin announces first European launch of VAZKEPA in Germany » 07:1509/1309/13/21
Amarin announced the…
Amarin announced the first European launch of VAZKEPA in Germany. VAZKEPA received marketing authorization from the European Commission in March 2021 and the Medicines and Healthcare Products Regulatory Agency in Great Britain in April 2021. The European launch of VAZKEPA, beginning in Germany, is supported by evidence-based cardiovascular clinical outcomes research including the REDUCE-IT study, a study which established that VASCEPA/VAZKEPA lowers the risk of a life-threatening heart attack or stroke by 25% when added to a statin in the targeted population. Amarin's president and chief executive officer, Karim Mikhail, stated, "The German launch is a historic moment for Amarin, as it is the first European country where VAZKEPA's proven cardioprotective benefits are available to healthcare providers and patients. This is particularly important as CVD is the number one cause of death in Europe." Mr. Mikhail added, "Our European launch marks a key milestone in our corporate growth strategy to bring the cardiovascular risk reduction benefits of VASCEPA/VAZKEPA to at-risk patients around the world. As Germany is the fourth largest global economy and there are more than 300,000 deaths due to CVD in Germany every year3, it represents both a significant market need and opportunity."
Centene initiated with an Outperform at Cowen » 17:0609/0909/09/21
Cowen analyst Gary Taylor…
Cowen analyst Gary Taylor initiated coverage of Centene with an Outperform rating and $87 price target, also naming the stock his top value idea in Large-Cap Managed Care, even though he warns that the company is likely to miss consensus estimates with its Q3 results. Taylor is positive on Centene having named Drew Asher as new CFO given his "historic candor and credibility" and in the context of its "historic inefficiencies and margin underperformance". The Biden administration is poised to "pull every possible lever" to expand insurance coverage and Centene should benefit through revenue growth with improved margins, the analyst adds.
SVB Leerink bullish on Amarin, initiates with an Outperform » 15:3709/0909/09/21
As previously reported,…
As previously reported, SVB Leerink analyst Roanna Ruiz initiated coverage this morning of Amarin with an Outperform rating and $12 price target. Despite broad use of statins and other low-density lipoprotein cholesterol lowering agents, many patients are not able to reach target levels and are still at risk of experiencing a serious cardiovascular event, the analyst notes. Hence, Ruiz thinks there is a place for Vascepa to help many not well-controlled patients further lower triglycerides and achieve improved cardiovascular risk outcomes. Further, the analyst believes the Vazkepa EU launch is "underappreciated" and that Vazkepa could achieve about $1B peak sales in 2032 due to a much broader EU label and a notably larger EU total addressable market versus that of the U.S. launch. U.S. generics appear to have supply issues in 2021, but Ruiz expects this to resolve as more generics launch in the U.S. in a few years. Thus, the analyst assumes steady year-over-year sales erosion for branded Vascepa from 2023 onwards.
Amarin initiated with an Outperform at SVB Leerink » 15:2509/0909/09/21
Earlier, SVB Leerink…
Earlier, SVB Leerink analyst Roanna Ruiz initiated coverage of Amarin with an Outperform rating and $12 price target.
Centene price target lowered to $67 from $75 at Mizuho » 06:4209/0809/08/21
Mizuho analyst Ann Hynes…
Mizuho analyst Ann Hynes lowered the firm's price target on Centene to $67 from $75 and keeps a Neutral rating on the shares. The analyst reduced the price target to reflect reflect downside risk to its earnings given the company's medical loss ratio guidance for the second half of 2021 which assumes a decline from second half of 2019 baseline levels. However, she views the managed care group's selloff as overdone. Recent channel checks in hard-hit Covid states like Florida and Texas suggest hospitals have postponed certain inpatient procedures, which will likely serve as an offset to the increase in Covid costs, Hynes tells investors in a research note.