Welcome to Amarin Corporation's Virtual Investor Day. I would like to turn today's event over to Mark Marmur, Vice President, Corporate and Investor Relations at Amarin, to walk us through today's agenda. Thank you, Evelyn. Good morning and good afternoon, everyone, and thank you for joining us for Amarin Corporation's Virtual Investor Day. Turning to slide two in our forward-looking statements, please be aware that this event will contain forward-looking statements that are intended to be covered under the safe harbor provided under federal securities law. We may not achieve our goals, carry out our plans or intentions, or meet the expectations disclosed in our forward-looking statements. Actual results or events could differ materially, so you should not place undue reliance on these statements. We assume no obligation to update these statements as circumstances change. Our forward-looking statements do not reflect the potential impact of significant transactions we may enter into, such as mergers, acquisitions, dispositions, joint ventures, or any material agreements that we may enter into, amend, or terminate. For additional information concerning the risk factors that could cause actual results to differ materially, please see the risk factors section of our annual report on Form 10-K for the year ended December 31st, 2023, and our quarterly report on Form 10-Q for the quarter ended September 30th, 2024, which has been filed with the SEC and is available through the Investor Relations section of our website at www.amarincorp.com. We encourage everyone to read these documents. An archive of this event, including both the webcast and related slides presentation, will be made available on Amarin's website in the Investor Relations section. Turning to slide three in today's agenda, we will begin today with Aaron Berg, Amarin's President and Chief Executive Officer, who will review the overall opportunity for VASCEPA and VAZKEPA globally. Steve Ketchum, Amarin's President of R&D and Chief Scientific Officer, will discuss VASCEPA / VAZKEPA and its scientific foundation. David Keenan, Amarin's Executive Vice President of Technical Operations and President of Europe, and Christos Papadopoulos, Senior Vice President and Head of Commercial for Europe, will provide an overview of the European opportunity for VASCEPA, and Eric Booth, Amarin's Vice President of Business Development and Alliance Management, will talk about the opportunity in the rest of the world markets and U.S. market dynamics. Following the presentations, management will be addressing topics and questions submitted in advance of today's event in the Q&A portion of the event. With that, I will now turn it over to Aaron Berg, President and Chief Executive Officer of Amarin, to get us started. Aaron. Thanks, Mark. Welcome, everybody. First of all, thanks for the interest in Amarin. Thanks for taking the time to join us today. We've got quite a bit to cover, and the focus for today is, there's a significant disconnect between the current share price and the unrealized value in VASCEPA and VAZKEPA globally, and you'll hear, for those of you who don't know, we use the brand name differently in different regions, and it'll be used interchangeably here throughout the presentation. We recognize the urgent need to accelerate VASCEPA growth globally and to increase shareholder value. There's a lot of potential, untapped potential. We have a job to do, and we intend to do it. Today, we'll provide greater visibility into a number of changes and quite a bit of progress we've made from the ongoing initiatives and those changes to position VASCEPA for immediate and for long-term growth. Just to level set, everybody, we are an Irish corporation traded on NASDAQ. We intend to maintain our NASDAQ listing. Last year, we did just over $300 million in revenue. Market cap now is about $240 million with cash of $300 million in no debt and commercialized VASCEPA in a number of countries. On the next slide, start off and talk about some of the strategic changes and the progress that have been made in the last 18 months. I'll focus on the last 18 months because there have been significant changes. First and foremost, last year, we had a new board and enhanced the leadership team, including changes broadly throughout the executive team: the CEO, obviously, Chief Legal Officer, and European leadership. There's been a strategic shift in supporting the U.S. business to maximize cash generation. It's a movement that has gone from sales and marketing, from a sales and marketing focus, more to a managed care access and a rebate focus that has been successful. There have been significant changes in European pricing and reimbursement and overall brand strategy. We learned a lot from early stages. We've made adjustments, and you'll hear more about that today, and we've continued to execute regional partnerships. We have six new partnerships in the last 18 months. We know in a number of regions, partnerships are the best way to get VASCEPA in the hands of as many patients as possible. That's our goal, and we continue to execute that. This year, year to date, we've continued to execute the new commercial and pricing and reimbursement strategy for Europe, and you'll hear more about the progress throughout the presentation today. And then, very importantly, earlier this year, we had new European IP granted, which extended the VAZKEPA exclusivity and opportunity in Europe until 2039. So you'll hear more about that. That's a significant opportunity for us, and that provides significant value. On the next slide, operational changes and progress that have been made over the last 18 months. So in 2023, in Europe, we secured pricing and reimbursement and launched VAZKEPA in three new markets: Spain, the U.K., most notably, Scotland as well, and the Netherlands. In the U.S., we continue to retain VAZKEPA IPE market share leadership. We've held on to our volume, and that's been significantly beneficial. In the rest of the world, we secured five regulatory approvals, including China for very high triglycerides. That's triglycerides over 500. Advanced the cardiovascular risk reduction regulatory process in China and entered into agreements in a number of key markets and regions, including Australia and New Zealand with CSL and Asia-Pac, including South Korea with Lotus, and significant R&D and medical progress. We're a science-based company. Our team has been very active, and there were 50 additional abstracts and publications supporting VASCEPA, 140 educational initiatives executed across Europe, and a strong presence at five major congresses. In 2024, we continued the progress. Spain, the U.K., and Central and Eastern Europe continue to power the early growth that we're seeing in the countries where we've launched. We've secured pricing and reimbursement in Portugal, Greece, and Israel, and continued progress with pricing and reimbursement authorities in Italy, and you'll hear more about that today. In the U.S., we've continued to retain IPE market share leadership, and that's despite additional generic competition. As you know, we're in a generic market. We continue to battle. We've been successful so far. We'll continue to do that. Once we get to a certain point, we will be prepared to launch an authorized generic and generate continued revenue and cash moving forward. The rest of the world, Eddingpharm in particular, received regulatory approval for VASCEPA for cardiovascular risk reduction in China, and they're advancing efforts for the national reimbursement drug listing. And CSL Seqirus, our partner in Australia, they secured the pharmacy benefit price listing for VASCEPA in Australia, and that will benefit them as they're launching now as well. So very good progress in a couple of key markets there. And R&D and medical continue to be very active. 25 additional abstracts and publications further supporting VASCEPA. Over 200 educational initiatives have been executed across Europe and a very strong presence at four major congresses. And then on the next slide, financial changes and progress. We've continued progress on renegotiating product supply agreements. We've limited significant at-risk spending in Europe prior to pricing and reimbursement agreements. We've learned a lot in Europe. Early on, we got a little ahead of ourselves with investments prior to pricing and reimbursement. You'll hear about some of the dynamics of those processes in various European countries and why we're trying to find the sweet spot of our investing to be very prudent and invest at the right time in the right countries so we watch our cash. And we reduced operating expenses last year by $100 million compared to 2022. In 2024, we achieved $50 million in annual operating expense reduction as we committed in Q3 of 2023. We secured approval for a $50 million share repurchase program, and we continued progress on renegotiating product supply agreements. So overall, there has been significant progress as a result of changes, and some of those changes, if you go to the next slide, please, are conducted by this team. This is our executive team, and we have a very deep bench for this team. You'll see that over the last year, certainly over the last 18 months, we've streamlined our executive team. The team has really stepped up, a lot of talent, a lot of experience, taken on additional roles, and are driving the business in a manner that we think will be effective and successful moving forward. You'll hear from a number of these people today. Next slide, please. The past progress and recent milestones set the stage for us for significant future potential for the brand. You know about the trials we conducted, three landmark trials, MARINE, ANCHOR, and REDUCE-IT in particular. As a result of the data, certainly led by REDUCE-IT, there's tremendous medical society support. Over 50 global medical societies have endorsed VASCEPA or VASCEPA based on the data. 46 countries now have approved VASCEPA for cardiovascular risk reduction, and we're in the earliest stages in so many of those countries and just haven't even gotten reimbursement or started in a number of those. So there's tremendous untapped potential. Now, we know that this product responds to promotion, and so far, we have over $3 billion in sales globally from VASCEPA that we've generated primarily from the U.S., and I'll talk about that in just a moment because there are tremendous learnings, but with this extended runway to 2039 and a brand that has tremendous potential that responds to promotion, supported by all these medical societies because of the strong data, we have a long runway to generate growth. Next slide, please. Now, the U.S. is in a very different place from Europe, but there are many learnings from the U.S. experience that we had, and what you see in the graph on the left is the life cycle of VASCEPA since we launched in the U.S. in 2013 for very high triglycerides. Now, what you see is we had time to promote and educate physicians ahead of the REDUCE-IT data, so there was awareness. Once the REDUCE-IT data hit, the acceleration was tremendous. The power of that data, I can't overstate it. Greater than 50% increase in prescribers to over 200,000 prescribers in the first full year post-publication and an 80% growth in new prescriptions in that first full year also, and the total IPE volume exceeded all PCSK9 inhibitors combined, and that continued even though, because of the generic introduction, we reduced our promotion significantly. And that certainly made a difference in the ability to grow the total IPE market. But that is different than the experience we'll have in Europe. The experience in Europe, one is we know, learning from the U.S., that if we take the time to promote and educate, providers respond favorably to VASCEPA. We know they'll do that. We've seen that early. We're early in the stages. We've got a lot of work to do. We know we need to accelerate growth, and we'll do that. But a very important point is that in Europe, the IP runway is based on cardiovascular risk reduction. It's independent of the experience in the U.S., where we had the skinny label introduction of generics and lost that business. With the IP runway, it's based on cardiovascular risk reduction. There is no very high triglyceride market for VASCEPA in Europe. So that's a tremendous benefit and adds strength and confidence, and not only the ability to grow, but the long runway that we have for the next 15 years. Next slide, please. So bottom line is, just to close my overall comments, is this: there is a large global burden of cardiovascular disease. It's a tremendous unmet need, 60 million patients in Europe alone, and that is not going down anytime soon. We've got regulatory approvals, and we're very early in many of these countries, early with launch, early with introduction, early with pricing and reimbursement, and we're just getting going. We've got a long runway of durable cash flows coming from the rest of the world and the U.S., and certainly the opportunity to grow in Europe. That's on the foundation of this data, the REDUCE-IT data. What you'll hear shortly is it's not just about the REDUCE-IT data. There's other data supporting IPE that provide support for the proven efficacy and safety. That's why we have such strong, broad global KOL and scientific guideline support. An important point that affects commercialization is VASCEPA doesn't compete head-on with other CVOT therapies. It's complementary to many of those. There are a lot of products out there with CVOT data now, but VASCEPA is complementary, added on to standard of care. We don't have to displace other therapies, and that certainly makes a difference moving forward from a commercial perspective and should positively affect uptake. Next slide, please. With that, I'm going to turn it over to Steve Ketchum. What we're going to do is a lot of you are familiar with the REDUCE-IT data. And what we find in talking to investors is there's kind of a bell curve of understanding of the REDUCE-IT data. So what Steve will do is take you through the REDUCE-IT data, even though we know a lot of you know the data, but also show you how the data, how we're looking at the data, lends toward a new European strategy. So with that said, I'll turn it over to Steve. Great. Thank you, Aaron. Any medicinal product, if we could just stay on the first cover slide, please. Any medicinal product that is truly successful within the pharmaceutical landscape is built on a strong scientific foundation. The science behind our product is what gives us confidence in the global opportunity for VASCEPA. Next slide, please. The backdrop is cardiovascular disease or CVD, which is depicted on this slide as the leading cause of death globally, with at far right, approximately 20 million CVD deaths reported globally in 2021. This significant health problem is only increasing in prevalence and in terms of the economic burden, whether that be in the United States, as reflected in the middle of this slide, or at left in Europe, where more than EUR 280 billion are spent annually on managing CVD disease. Cardiovascular disease remains the number one killer globally, and innovative products and approaches guided by strong science are needed to address and impact the significant health challenge that CVD represents to society. Next slide, please. It is important to acknowledge that there have been some therapeutic advances, including products such as statins that lower LDL-C, though residual risk remains a critical issue that we need to address in order to more positively impact cardiovascular disease, as depicted in the left panel on this slide. Even statin-treated patients with well-controlled LDL-C levels are at risk for a cardiovascular event over the years of follow-up in the cited outcomes trials, with that residual risk reflected by the light blue, dark blue, and red curves going up on the Y-axis over time in the respective studies. In the right panel of this slide, the ability of VASCEPA to exert a cardiovascular benefit on top of statin therapy is shown, with a 25% relative risk reduction on the pre-specified primary composite endpoint, looking at the time to first event for a five-point composite of myocardial infarction or MI, stroke, CV death, coronary revascularization, or unstable angina. Next slide, please. So statins did represent a demonstrable leap forward compared to pre-statin therapies such as niacin, fibrates, and bile acid sequestrants, which modestly lowered bad cholesterol or LDL-C or increased good cholesterol, also referred to as HDL-C. The era from 1987 forward was a period characterized by aggressive lowering of LDL-C, with the prevailing motto being lower is better, which led to the successful development and introduction of a range of therapies, including statins, PCSK9 inhibitors, ezetimibe, and bempedoic acid. As previously mentioned, residual risk remains in spite of well-controlled LDL-C, and other innovative approaches are needed to address that residual risk. VASCEPA has been proven to reduce CV risk on top of statin therapy and has been endorsed by leading cardiovascular medical societies such as the American College of Cardiology, the American Heart Association, the European Atherosclerosis Society, and the European Society of Cardiology. Next slide, please. And as Aaron mentioned and is summarized on this slide, there are a number of clinical studies conducted prior to the availability of the REDUCE-IT study results that independently demonstrated the consistent benefits of icosapent ethyl on either cardiovascular outcomes. See the top of the slide for the JELIS trial at left published in 2007 and the Nosaka et al. study at right published in 2017. Or on plaque reduction, as depicted in the bottom of the slide for the Inoue et al. and Watanabe et al. studies published in 2014 and 2017, respectively. And as reflected on the next slide, following the readout of our REDUCE-IT cardiovascular outcome study, an imaging trial of icosapent ethyl on top of statin therapy called EVAPORATE read out positively in 2020. And earlier this year, another Japanese outcome study research team published their study results showing a numerically lower risk of cardiovascular events in patients treated with icosapent ethyl and statins. And as I will discuss later on, our own recently published subgroup analysis of high-risk patients with recent acute coronary syndrome shown at the bottom right of this slide further reinforces and validates the clinical value of VASCEPA to address segments of unmet need in cardiovascular disease. Next slide, please. The clinical development program for VASCEPA is summarized on this slide. Across 2009 to 2011, two 12-week lipid biomarker endpoint studies were conducted. The first of these was called MARINE and enrolled patients with severe hypertriglyceridemia characterized by baseline levels of triglycerides between 500-2,000 milligrams per deciliter. Primary endpoint in this study was change in triglycerides at week 12, and icosapent ethyl demonstrated a significant 33.1% reduction in that endpoint, which supported the very high triglycerides or VHTG indication in the United States. A second study called ANCHOR focused on statin-treated patients with well-controlled LDL-C, but who had high triglycerides in the range of 200-499 milligrams per deciliter. Icosapent ethyl in ANCHOR also met its pre-specified endpoints of demonstrating significant reduction in triglycerides while not increasing LDL-C. But evolving scientific and regulatory standards relegated the main role of this second study, ANCHOR, to supporting the safety of VASCEPA in the VHTG label in the United States. Although TGs were reduced in the ANCHOR 12-week lipid-focused trial could not substitute for cardiovascular outcomes data to achieve a broader indication, which elevated the regulatory standard for and in the importance of Amarin's landmark REDUCE-IT study. REDUCE-IT enrolled statin-treated patients with well-controlled LDL-C and multiple cardiovascular risk factors, including elevated triglycerides in the range of 135 to 499 milligrams per deciliter. 8,179 patients were enrolled, 70% of whom had established CVD, also referred to as the secondary prevention cohort, and 30% of whom had diabetes mellitus and other age and risk factors for CVD or the primary prevention. Patients were followed across time for a target of 1,612 cardiovascular endpoint events, and the key results are summarized across the next couple of slides. Next slide, please. The REDUCE-IT study demonstrated that icosapent ethyl significantly lowered the risk of ischemic events, including for the primary endpoint of five-point MACE displayed at left, which features prominently within the approved United States labeling, and also that statistical significance for the key secondary endpoint of three-point MACE, which features prominently within the approved European labeling and is displayed at right. As shown on the next couple of slides, the consistency of the REDUCE-IT study data across key clinical endpoints and key patient subgroups has paved the foundation for Amarin's regulatory successes to date in obtaining approvals for the cardiovascular risk reduction indication. As shown in the green boxes at far left and far right of this slide, the study met the first nine endpoints in the pre-specified hierarchy with statistical significance in favor of the icosapent ethyl treatment arm. As shown in the bottom row in the 10th position within the endpoint hierarchy, total mortality did not reach statistical significance below the 0.05 p-value level as reflected at far right, but the total mortality results did trend in favor of icosapent ethyl. In summary, this robustness and consistency in clinical endpoint data gives Amarin confidence in the global opportunity for VASCEPA. Next slide, please. On earlier slides, I summarized the various studies since 2007 that have consistently demonstrated positive results for icosapent ethyl products in cardiovascular outcomes and imaging trials. This consistent demonstration of cardiovascular benefit is also true across pre-specified and post-hoc statistical analyses conducted on key patient subgroups from REDUCE-IT. Following the presentation and publication of the primary results for REDUCE-IT in late 2018 at the far left of this slide, which showed a 25% relative risk reduction in the full study population, Amarin and the study steering committee have continued across the past six years to perform further analyses of key patient subgroups and to present and publish time to first event and total or first and subsequent events data for these subgroups. At the far right of this slide, the subgroup of patients who have experienced a recent acute coronary syndrome or ACS, defined as myocardial infarction or unstable angina, less than 12 months before randomization into the REDUCE-IT study. These data, which were presented at the American College of Cardiology scientific session in 2023 and published in the European Heart Journal earlier this year, showed that icosapent ethyl substantially and significantly reduced the risk of first and total ischemic events by 37% and 36%, respectively, without increasing bleeding in these patients with recent ACS who are at very high risk of future CV events. In summary, this robustness and consistency of time to first event and total first and subsequent events data across key patient subgroups in REDUCE-IT gives Amarin confidence in the global opportunity for VASCEPA. Next slide, please. After the REDUCE-IT study results were first presented and published in late 2018, as Aaron mentioned, you can see at the far left of this slide that leading medical societies in the United States at top and internationally at bottom began to issue statements in 2019 recognizing icosapent ethyl, the active pharmaceutical ingredient in VASCEPA, as an important treatment for atherosclerotic cardiovascular disease. The fact that 50-plus leading medical societies across the globe have endorsed icosapent ethyl to date across the past six years is a testament to the robustness and consistency of the REDUCE-IT data across cardiovascular endpoints and across key patient subgroups. Next slide. As Aaron mentioned, across the span of the clinical development program, Amarin and the study investigators have remained committed to presenting and publishing on VASCEPA science with a robust catalog of more than 500 abstracts, manuscripts, review articles, and book chapters published from 2011 to the present day. This important scientific work continues, and we look forward to the presentation of a new REDUCE-IT sub-analysis in patients with and without coronary artery disease and to presentations of mechanistic data on eicosapentaenoic acid or EPA this coming weekend at the American Heart Association scientific sessions in Chicago, Illinois. Next slide, please. That wealth of positive cardiovascular benefit data on VASCEPA and other icosapent ethyl products that I summarized on earlier slides stands in stark contrast to the 10 cardiovascular outcomes trials depicted on this slide, which have reported out across the past 20 years on various fibrates and darker font and EPA plus DHA mixtures in lighter font. Each of these 10 studies involving a total of more than 106,000 patients failed to demonstrate cardiovascular benefit. A key takeaway from this slide is that fibrates and EPA plus DHA mixtures provide no benefit to reducing cardiovascular risk. The millions of patients worldwide who are continuing to be treated with these therapies need other treatments that have proven to reduce CV event risk. Next slide, please. This slide provides a high-level summary of select diabetes therapies, statin monotherapy, statin intolerant therapy, and various agents added on top of statin therapy, which have been proven across the past 20 years to reduce cardiovascular outcomes when added to current standard of care. The names of the specific therapies are listed above the names of the respective cardiovascular outcomes study descriptors and the names and the years that the primary study results were published. The percentage relative risk reductions in major adverse cardiovascular events or MACE achieved by each therapy are listed in the arrows for each study's primary composite MACE endpoint. Below each arrow is cited the corresponding number needed to treat or NNT, which is the number of patients who need to be treated to prevent one additional bad outcome. Listed NNTs are based on the primary composite MACE endpoints of each trial. Although cross-trial comparisons are subject to differences in study populations, primary outcomes, and other study design aspects, the data within the boxed element at the far right of this slide for VASCEPA gives us confidence in the global opportunity for the product. The robust 25% relative risk reduction reported for the primary composite five-point MACE endpoint with an NNT of 21 for the full study population demonstrates the ability of our product to reduce the residual risk that remains after controlling LDL-C with stable statin therapy, and the 37% relative risk reduction in MACE with an NNT of 11 for the key subgroup of patients in REDUCE-IT with a recent acute coronary syndrome or ACS highlights the ability of VASCEPA to substantially reduce the risk of another cardiovascular event in patients who are at very high risk of future cardiovascular events. As we have shown today, VASCEPA has a sound and compelling scientific foundation, clearly demonstrating our product's ability to reduce residual CV risk. Our product's relative risk reduction percentages and NNTs qualitatively stack up well relative to other therapies. And given the overlapping comorbidities of patients enrolled across these various trials and the differing mechanisms of action of the respective therapies, it is Amarin's view, as Aaron conveyed, that the likely multifactorial mechanisms by which VASCEPA exerts its biological effects may very well be complementary to other therapies shown on this slide or to other investigational products under development for cardiovascular disease. I will now turn the call over to David Keenan and Christos Papadopoulos, who will share more about the European market and how this compelling scientific story for VASCEPA is being leveraged for progress in the region. Thank you, Steve. Hello, my name is David Keenan, and it's my pleasure, along with Christos, to talk to you about our progress to date in Europe and the significant opportunities we see in the years ahead. Before we get into the detail on the product itself, I think it's worthwhile maybe talking a bit about Europe and the pricing reimbursement process that takes place in the European countries. So first, if we look at the Europe as a significant market, but there are significant differences between it and the U.S. So we look, first of all, from pharmaceutical spending. In Europe, we spend approximately $200 billion annually on pharmaceutical products, where in the U.S., it's in excess of $600 billion. When we look at the population, we're around 600 million people in Europe and around 335 million people in the U.S. And then when we look at the reimbursement environment, there's quite a difference. So you can't think of Europe as one block and everything is done the same. There's different pricing and reimbursement models in each country or each group of countries. And these can be a cost-effectiveness model. They can be a comparative clinical effectiveness model, or they can be budget optimization market models. The system in Europe is publicly financed, and the governments in each country focus on cost containment, affordability, and predictability of healthcare budgets. And there is 100% accessibility for all citizens. When you look at the U.S. system, it's a mixed system. You've got the U.S. government finance Medicare and Medicaid, and the coverage coexists with private insurance, and approximately 50% receive private insurance. When you look at the pricing environment in Europe, it's a list price international reference with confidential discounts, whereas in the U.S., it's a WAC price and its confidential discounts to payers. And then, as Aaron mentioned earlier in the presentation, when it comes to generic competition in Europe, we have IP Runway now to 2039. And really importantly, we don't have the VHTG skinny label competition, where in the U.S., we're in the middle of a generic competition as we speak. And then we look at timelines. In the U.S., it's a quick access post-FDA approval, where in Europe, it's slow, gradual access in each country post-EMA approval, and each country is unique. And if we go to the next slide, I'll highlight this time-consuming pricing and reimbursement and commercialization pathway, and it's highly dependent on each government within Europe, its ability to pay, and also its willingness to pay. So the process starts where a company submits the regulatory approval market authorization either into the MEA or the UK MHRA. So we'd submit the market access and reimbursement dossier, and the process starts. So the first part of that process, then there's scientific assessment and a recommendation. And then after that, it goes on to pricing and reimbursement negotiations, and finally on to country launch. But what's really important to note is that it's not just one step. So what can happen is there can be multiple iterative steps within the scientific assessment, where it's back and forth between the scientific assessment community and the company. Then when it gets on to the pricing and reimbursement part, there can be multiple steps and back and forth between it and the companies as well. When you look at the average time within Europe, it's just under two years, so 531 days average time to access at a country level after market authorization application. What's also a point to note is that the average rate of availability in countries after market authorization is 43%, which means companies that have actually applied to submit their market access and reimbursement dossier, less than half of those companies are successful in getting reimbursement for their products. Then if we move to the next slide, as Aaron mentioned and Steve in his earlier presentation, there's a significant opportunity in Europe, and it represents significant unmet need because we've got a broad approved VASCEPA label. We estimate there's 6.6 million VASCEPA eligible patients on secondary prevention only in Western Europe. As we mentioned earlier, we're at the initial phase of this commercial opportunity. We have IP protection out till 2039. We've regulatory approval out till 2031. Even though we're at the early phase, we've got a very long 15-year runway ahead of us. Then if we go to the next slide, what's changed? As Aaron mentioned earlier, about 18 months ago, we changed out the leadership team and changed about how we approach things. Just to highlight before that, how we were approaching the market in Europe. Our past approach was based off VASCEPA's strong data. We had an approved label and potential benefit for patients, and the team pursued large patient population focus and commercial effort, significant investment well before the pricing re-agreements were in place. The VAZKEPA budget impact was not aligned to the initial market access opportunity. We could clearly see this wasn't working, and a radical change was required. We changed out the leadership team, but also we changed a different strategy that was developed and adopted. Now with the way we operate, it's a new focused commercial strategy tailored to each country's needs. There's initial focused patient profiling and specialist customer targeting, the resource optimization and prioritization, and finally, focused VAZKEPA value proposition emphasized and well understood. This new team, new strategy has led to recent successful P&R agreements, which Christos is going to go through in more detail, accelerated sales growth, and reduction in operating expenses. How are we doing this? If we go to the next slide, please. We have a new operating model. So even though we maintain a critical regional support, it's significantly smaller now than it was in previous leadership teams. So the shift has focused now to ownership and country execution. We have a much leaner organization. We focus on speed access, quick uptake, and optimal use of resources. As I mentioned in previous slide, we've minimized investment at risk and ruthless prioritization on activities that generate revenue or access fast with a high probability of success. Firstly, we have an entrepreneurial mindset and an agile shift of tactics when needed. So we abort quick, fast. If something's not working, we stop doing it. If something is working, we work on it faster. We accelerate what works. And finally, a proximity between the teams. We have fast exchange of key learning. So what's working in one country, we make sure that we apply that into another country as fast as possible. If we go to the next slide, I'm going to hand you over now to Christos, who heads up the commercial organization and is going to provide the details further on our success to date. Thank you, Christos. Thank you, David. Both Aaron and David emphasized a few times now the different strategy we have been following the last 18 months. With this slide, I will try to make it in practical, simple words. What are the three main pillars that create this new strategy? One part is our very clear focus to very high-risk patients. This practically means we are referring to the established CVD, to the secondary prevention patients of our labels. These patients are practically patients that have had an event in their past. By focusing on this group of patients, it is clear that we are addressing first to both payers and clinicians, the patients first, where we do have a subset with stronger results, but also we are speaking about the patients that both payers and clinicians are more interested to treat now, feel that they are more interested to treat. The implications are both for access and for marketing. So in terms of access, it means first that we are talking about patients that payers connect, that clearly they have a critical unmet need, but at the same time, it means that we come with a more rational budget for the first years of access, which we can then open up. The second implication is directly linked to what Steve mentioned earlier about the recent publication about our recent ACS patients. What is the recent ACS patients, the recent acute coronary syndrome patients? Are there patients that simply had an event over the last one year? You do understand that when we start talking about this specific patient population, it's very evident. It's very clear that the doctors are much more willing to add a new therapy, a new breakthrough therapy in order to manage their residual cardiovascular risk, simply because they know that these are the patients that do run the risk of having a subsequent event. I think as Dr. Koul mentions in the video that we will be playing a little bit later, you need to think about the way clinicians today treat hypertension, where they do prefer to use multiple brands that address multiple pathways in order to manage the hypertension issue, hypertension risk, rather than exhaust the potency of just one therapy with one addressing just one pathway. This change in strategy in terms of patients does create subsequently a change in our go-to-market model at launch. So over the last one year and a half, we have focused drastically on both specialty accounts, but also specialty prescribers. And why? Because first, this is where we are going to find these very high-risk patients that would have had a recent event where doctors do need more tools to treat them with, and for which patients are more open to receive more therapies. This is providing us traction both in sales, but also in creating advocacy and adoption of the brand faster for these very high-risk patients. The third pillar of our new strategy is a little bit, I would say, more opportunistic and linked to the constraints of Amarin, which is a more ruthless country prioritization and where we choose to place our resources over the last one year, one year and a half. We did decide back a year and a half ago to say, no, we are going to double down. We are going to maximize our effort and our resources in the countries that can deliver a positive reimbursement outcome sooner so that we can create the critical mass for us to start generating a sales uptake through our launches. So in the next slide, if we can go to the next slide, please, then we will see, I don't know, Tigan, if you're okay, that practically with this new strategy that we did implement, we did have a series of PNR successes over the last one year and a half. And you can see that we had Scotland, Spain, Netherlands, Israel, and Greece until today. On this chart, you do see that we do estimate that we will have Italy within 2024. And the reason why we boldly state here that we will have Italy is because we do know that we have taken all the right steps from our side, but also all the right steps have been taken from AIFA side, from the payer side, in order to be able to deliver a positive outcome within this year. I cannot share more today, but I'm very confident we will be able to share positive news in the coming weeks. These successes that we have over the last period and until the end of 2024, we have covered all Western European countries that account for 52% of our ASCVD population in Europe, out of the 6.6 million that David mentioned earlier. And this is a big enough critical mass. Now, the key success factors that are driving, that help us drive the successes, I have them in the bottom of the slide, but let us focus on two simple ones. The one is that first we benchmark what we call the budget impact tolerance of the payer, or better, the ability and willingness to pay. We also couple this with the right patient population, the right patient profiles, which the payer can very easily recognize that, yes, these are the patients that need to be treated first. This is how we accelerate our entrance in the market and leave open the opportunity to expand this population in future discussions with our payers. Now, if we go to the next slide, it's also very clear that there is a big number of countries that we are in the process to reimburse in the coming years. Clearly, Germany and France are the biggest of those. This still accounts for a little bit less than half of the countries that we have reimbursed today. I want to make sure that we all understand that today versus a year ago, we do have access to more than 50% of the population that we need to drive our sales. But these are all very recent launches. And the countries that we have launched so far, clearly, we just had three launches in the past one month, clearly will be the ones that will source our growth in the coming years. But now, if we go to the next slide, I would say the natural question that will come is, do we have a winning launch strategy? So do we have what we take, what it takes in order to make sure that we can have an accelerated growth post-launch? And I will answer with confidence today, yes. I'm saying with confidence because we did manage over the last year two very significant markets, both Spain and the UK, and both of these markets for one year has fed us back with very successful learnings. If I would go a little bit fast on the titles of the six key success factors that constitute that create this winning plan post-launch, one is, yes, it's clear that we need to achieve strong medical advocacy, but it's also important to make sure that we provide the platforms to these key wells that embrace the product years now to be able to speak about what they believe about the product. The second, we need to double down on explaining the medical need even before reimbursement, but still continue to do it after reimbursement, and the role of TGs on that, simply because there is an inertia out there with all the different therapies of the past years that were managing a different pathway, and that's LDL. So this is an effort that we will keep maintaining at a very high intensity even post-launch. The next two key success factors talk again about focus. So our choice is linked to what Aaron said earlier, that our product is promo sensitive, but our product also needs at least a certain number of visits, of deliveries of the right message to a certain physician in order for him or her to change their behavior. Our choice over the last year has been to reduce our targeting group and double down and increase our investment in order to achieve higher frequency in higher time. We did that with a more targeted patient profile, which you understand by now with the recent ACS data that we do have. We have the ability to speak, to use very impactful data and connect them to patients that need to be treated urgently with multiple pathways in order to address their risk. The last point, which is very important, and there has been a radical shift there, is that we realized over the last year that we had to change our marketing mix and put much more effort into peer-to-peer education, simply because the product has so strong data that is embraced by the scientific leaders and the key opinion leaders and the medical societies. So we need to create these forums where peers come together with the scientific leaders and do hear from them rather than just from our reps, yeah, about the benefits of using VASCEPA. And the last is much more technical. Yes, it does require discipline and a tight KPI monitoring in order to make sure that we will have a good launch. Next slide, please. With these success factors today, I do feel proud that we do manage to change the curve, to bend the curve, and today, over the last four quarters, do run with a compound growth of 50% quarter over quarter. But I'm not ignoring the fact that this starts from a smaller base. It's also important for all of you to know, although you know that we have reimbursed nine countries so far, this is mainly driven by the two big countries, Spain and the U.K. So Spain has had a strong launch right from the beginning, implementing one by one all the success factors that I mentioned before with a very tight execution plan. And the successful launch of Spain allowed me to say that it did help us implement faster changes in the U.K. And these changes combined both leadership, but also resetting the strategy and refocusing in the recent ACS patient strategy and in the ACS key accounts. And these are the changes that today allow us to say that the U.K. is delivering significantly increased growth. So concluding the European section, if we can go to the next slide, I would like just to highlight some key takeaways. I think it's very evident that we are addressing a very critical unmet need, yes, with a broad level, but focusing on very high-risk patients. We are the only clinically proven cardiovascular risk reduction therapy today for the patients we studied. We do have a long runway simply because we have a strong IP protection until 2039. But most importantly, the last year, we have implemented significant strategic and operational changes that fundamentally alter the picture and are responsible for the progress we see today. The other point is that we do have a new laser-focused strategy that helps us unlock advocacy, access, and sales, and needless to say that we are sitting on a very robust supply chain ready to serve our future growth. I want to take the opportunity, since you are all here, to share with you a video where actually we do have some significant scientific leaders from the countries we have already launched that do take this opportunity and share with us, first of all, the medical need they believe our product addresses, but most importantly, how they have adopted it already in their day-to-day clinical practice. Let's go for the video. I'm Hussain Contractor. I'm a consultant interventional cardiologist. I work in Greater Manchester at the Manchester Heart Institute, which is a large sort of surgical center where we hold the regional primary PCI setup. So we see a lot of patients with coronary artery disease and do roughly 1,800 PCIs a year and about 400 or 500 bypass operations as well. So a lot of people with heart disease. I'm Fabrice Martens. I'm a cardiologist and professor of preventive cardiology at the Amsterdam University Medical Center. I was a non-academic cardiologist for 15 years, and I was the president of the Dutch Research Working Group, WCN, of non-academic cardiologists, and I'm also a board member of the Cardiovascular Risk Management Guidelines, the Dutch ones, on behalf of the Dutch Society of Cardiology. So my name is Sasha Koul. I'm an associate professor and interventional cardiologist at Skåne University Hospital and Lund University in Sweden. And I practice PCI, CHIP, TAVRs, MitraClips, TriClips, and interventional procedures. Well, my name is Luis Rodríguez Padial. I'm a clinical cardiologist working at the University Hospital Ramón y Cajal in Madrid, Spain. I'm also a professor of medicine at Alcalá University in Madrid, Spain, and I have been past president of the Council of Clinical Cardiology of the Spanish Society of Cardiology. I'm now the current coordinator of the Working Group of Cardiovascular Pharmacotherapy of the Spanish Society of Cardiology. Concerning my clinical practice, my clinical practice is mainly based on clinical cardiology and working in an outpatient clinic. So most of my time is devoted to clinical cardiology from a general point of view in cardiology. There's category one and category two, and then there's the most malignant categories when you mix them both up together. So category one, I would say, are patients that come in with organ-specific recurrent events. So since I'm a cardiologist, often it is recurrent myocardial infarctions. So the patient might not have stroke or peripheral artery disease and so on, but the patient comes back with new infarcts or with new unstable angina and so on. Then we have patients that perhaps come in with their first episode of coronary artery disease, but the patient has a Polyvascular disease. So the patient has had a prior stroke or a prior limb episode or something else. And then you've got the most malignant combination, the patients that are combined both categories. They have Polyvascular disease, and they also have organ-specific recurrent events. So typically, it could be a patient with peripheral artery disease, perhaps carotid stenosis that comes with recurrent MIs. Those are the most challenging patients, I feel, that have that combination, and they are very difficult to treat in an adequate fashion. And we work hard to prevent them from having their recurrent events. And that's a big challenge for us, unmet need. The question is, what are the typical established cardiovascular disease or secondary prevention patients I treat in my practice? From my 15 years of non-academic cardiology experience, I know that most of the patients are actually too late with presentation. I mostly see them when they are hit by a cardiovascular event. Most of the patients are not aware of their cardiovascular risk because of hypertension, hypercholesterolemia, diabetes, obesity. Actually, they don't have really restrictive symptoms. If these cardiovascular risk factors are finally noticed in the Netherlands, these patients are treated by the general practitioners. They're doing a really good job, but are not always as strict in treatment as the guidelines that we command. When they finally have their cardiovascular event, the patients really recognize their cardiovascular risk, and they start to change their lifestyle, but actually like to lock the stable door after the horse has bolted. In my practice as professor at the Amsterdam UMC of Preventive Cardiology, I see more second opinions of patients with recurrent cardiovascular events and residual cardiovascular risk, although standard treatment, and furthermore, I see more cardio-oncology patients because cardiovascular risk management becomes more important for these patients as well. That's an interesting question because in the last years or even decades, most of the efforts have been made to reduce LDL cholesterol, so most of the drugs have come to reduce LDL cholesterol, and that's what we could talk about: statins, ezetimibe, PCSK9 inhibitors, bempedoic acid, or inclisiran, more recently, but there is only a drug that has been demonstrated to reduce cardiovascular events in patients with high levels of triglycerides, and that's VAZKEPA. VAZKEPA is devoted to reducing cardiovascular risk in a very interesting subset of patients, which are those patients with high levels of triglycerides, despite the treatment with all drugs devoted to or aimed to reduce LDL cholesterol. This is the unique drug focused on this subgroup of patients. And this subset of patients is actually important. It's very important. We are talking about 25%-30% of patients with ischemic heart disease suffering from high levels of triglycerides. In summary, we could say that VAZKEPA is the only drug aimed to reduce the risk of patients with high levels of triglycerides and is a complementary drug with all the armamentarium we have to reduce LDL cholesterol. The role of VAZKEPA in the current standard of care of patients for established CVD is currently I use it in my high-risk patients. I think I'll take the analogy to treatment of hypertension. I mean, we know that maximizing one drug to the absolute hilt or combining multiple drugs, we know that the latter option is probably a better option for hypertension. You need to hit more systems. And when it comes to cardiovascular disease, I think we've come a great length with LDL reduction, and we've achieved great results so far, absolutely. But even in trials today where you can decrease LDL to exceptionally low levels, levels that are associated with newborns, there still is a high residual cardiovascular risk that extends out in time. So the way I think about it is that atherosclerosis is polyfactorial, and just going on LDL only will take you so far. It'll take you a bit. It'll take you a decent bit, but it will not eliminate the residual cardiovascular risk. We need to find alternate avenues to attack this residual cardiovascular risk, and there's where I feel like VAZKEPA plays a role in its presumed anti-inflammatory role and its effects where we can see that irrespective of the patient's LDL or irrespective of the intensity of the patient's standard therapy, VAZKEPA seems to enjoy similar benefits, so it seems to be some kind of alternate mechanism, probably through anti-inflammation, and I think that is a big news with VAZKEPA, that we're attacking the plaque biology through anti-inflammatory mechanisms in patients with high residual cardiovascular risk. Our experience is very positive. In my clinical practice, I have treated more than 100 patients with VAZKEPA, and the experience has been extremely positive. There are a couple of things it's important to say to the patients who have been treated with VAZKEPA. First of all, is that probably the dosage is not so comfortable as other drugs in which you have to put treatment just with one drug per day, once daily. And in the case of VAZKEPA, you have to give two pills b.i.d. So we have to explain to the patients that it's very important to be adherent to this treatment. And all the things that are well explained are well accepted by the patients. I think, you know, when we first started using it, you know, you always have concerns, I guess. But what we've kind of, you know, and there were a number of concerns, I guess, you know, is this going to increase their bleeding risk? Is it going to cause atrial fibrillation? Are they going to tolerate the medication? Is this going to add to their pill burden? Because already, you know, these patients are on multiple agents. But actually, you know, the journey with this therapy has been quite benign, in my view. You know, patients tolerate it very well. They're generally very keen to go on to it because once they've had the cardiovascular event, it's often a watershed moment for these individuals, and they really don't want another one. And so anything we can do to try and reduce their risk, you know, that they're very keen to engage in generally. So, you know, all those kind of concerns that we had when we first kind of came to VAZKEPA haven't really played out at all. I guess, I mean, I guess the other thing, you know, about VAZKEPA is because it's derived from fish oils, patients, again, seem very happy to take this in their perception that, you know, it's a sort of, you know, derived from a natural product as well. You know, putting all those things together, we've, you know, used a lot of VAZKEPA at this point in time and not really had any negative feedback at all in that regard. I hope you enjoyed the video. Now let me pass it to Eric Booth to speak about the rest of the world opportunity as well as the U.S. market insights. Eric? Thank you, Christos. Yeah, I'm going to just take a brief moment and, you know, update on the rest of the world as well as the U.S. First, when we talk about the rest of the world, those regions outside of Amarin's core footprint, as you've heard, our goal is to get VASCEPA, VASCEPA into as many patients' hands as possible. You hear the clinical benefits that Steve walked through from those KOLs, and we really want to get that to as many patients as possible. To do that and to expand in geographic reach, we do that through partnerships, and importantly, that allows us to access those patients faster, more efficiently, using that local expertise of those companies. They have the relationships, the know-how, and the infrastructure in place. You know, this allows us to not only share the cost, but also mitigate the risk, and again, like I said, to get VASCEPA, VASCEPA into the hands of patients as efficiently and rapidly as possible. On the next slide, you'll see our nine current partnerships. These are across the world, you know, folks like HLS in Canada, CSL in Australia, Edding in China. Each partner is somewhat at a different stage within the process. You've heard, you know, outside the U.S., the various processes for pricing and reimbursement beyond approval from David and Christos. That plays similarly in many of these regions. Lotus in South Korea and Asia, Southeast Asia, for example, is in a very early regulatory process, as well as Central and Eastern Europe. Our partners, Vianex, Neopharm, MagnaPharm, and Salus are also in various processes of regulatory pricing and reimbursement, as well as commercialization. So you can see we've selected partners who have that local expertise really driving that efficiency to get VASCEPA, VASCEPA across the globe and into patients' hands. On the next slide, I want to highlight three markets and three partners that we're working with. You know, as you've heard, with cardiovascular risk reduction, really VASCEPA is just getting started, not only in Europe, but also globally. Eddingpharm in China, very large market. It's been shown, you know, 330 million patients with cardiovascular disease. And Eddingpharm was, we've had great success. The team has worked very hard. Not only that approval in 2023 for VHTG, but this year in July, received that label expansion for cardiovascular risk reduction and is initiating that commercial launch as we speak against that market. Biologix similarly is expanding into cardiovascular risk reduction, in particular in Saudi Arabia. And in that market, they're working with the authorities on pricing and reimbursement and progressing that commercial launch as well. Additionally, most recently, CSL Seqirus in Australia, they received the approval in November of 2022. Pricing and reimbursement process there was just achieved in October. Very excited as that commercial team gets going and brings VASCEPA to that market and those patients. The next slide, we'll touch on the U.S. As we look at the U.S., as Aaron said, significant growth post-REDUCE-IT. This slide is to highlight the durability and show the market share that the brand has been able to maintain and that market leadership that we continue to drive with the brand. Through that time, you know, we've generated $2 billion worth of revenue for the brand here in the U.S. Additionally, to maximize profitability, we've reduced our operating expenses, which this graph also depicts for you, as we've gone across time and to today, as our strategy continues to be to maximize profitability of the brand and reduce OPEX where possible. To continue that cash flow and the durability ongoing, the next slide kind of shows the levers we have to work with. I'll start with the managed care exclusive contracts. Those really drive that brand leadership in the market, and we will work to continue to keep those in place. We also have additional potential operating expense reductions as we go forward that we can leverage. And then, as Aaron mentioned, we continue to monitor the market and the dynamics of pricing and profitability of the brand and have the ability to launch an authorized generic when necessary. So with that, I'll turn it back to Mark for the Q&A session. Thanks, Eric. So we're going to start the Q&A now. In the lead-up to the event and the registration process for the event, we asked participants to submit their questions in advance. We did receive around 60 questions from participants who registered for today. What we've done is we've kind of bucketed those into core topics and themes, and we're going to start to address those in the Q&A session now. So to begin, you know, there is a lot of focus on the stock price and specifically the NASDAQ delisting. You know, Aaron, you mentioned it earlier in the presentation that we're committed to that listing. Can you tell our investors a little bit more about, you know, our plans and how we, you know, plan to mitigate that and address that? Yeah, sure. So obviously, this is a question first and foremost in so many minds and ours as well. And just to reiterate, as I've said, as Mark just said, we're committed to maintaining that listing. And we have several paths that we can execute to maintain that listing. We've talked about the share buyback. Of course, many are aware of a reverse split. We're going to be very thoughtful and very judicious about which way we go. And there are other paths that are available to us as well. One thing that we've done just recently is we've been working with NASDAQ, and we filed an application with the exchange for a deadline extension. And this is a commonly used path in situations like this. NASDAQ doesn't want to delist anyone. Once approved, if approved, and we do expect it to be approved, then that would extend the time for our compliance out to May of 2025. So overall, we're going to do what's best for the company. We recognize the importance of maintaining that listing, and we will find a path and choose the optimal one that benefits shareholders. Great. Thanks, Aaron. You know, there's a lot of focus on our plan. There were questions around, do we really feel like we have a realistic plan? Does management and board feel like our plan is sound and realistic? I mean, that's a good question, and I hope today that was enlightening, that we showed we have a plan and we continue to learn. We continue to evolve the plan, and we do it urgently. We make changes, as you heard from Christos and others, you know, and David, that we take those learnings, that if we need to shift course, we do that, and we do that quickly. We understand the urgency to drive our business, and we need to move that forward. So we'll continue to execute the plan that we have presented today, the activities today, but we are open to exploring every opportunity to get this product to as many patients as possible globally. Nothing's off the table. Thanks, Aaron. You know, going beyond the plan that was laid out today, you know, investors want to know about life cycle management and are there opportunities that go beyond the current opportunity with this product? Yeah, I think, you know, I think I'll have Steve touch on that. Steve runs R&D. We explore so many opportunities. We've presented with so many opportunities from a lot of experts out there because this molecule is so unique and has so many systemic effects. There are a lot of places that we could invest. We have to be judicious. But Steve, do you want to comment on that? Yeah, thanks, Aaron. Yeah, and you're right. In terms of life cycle management, there certainly are other potential opportunities for this molecule beyond its value in addressing residual CV risk. And we've seen that through, as you mentioned, inbound requests, but also independent investigator-initiated studies in other disease areas. We also have a multifaceted collaboration with the partner Mochida to explore development of potential drug products and indications based on the active ingredient in VASCEPA. But those potential future opportunities that are contemplated under that collaboration agreement are currently in early stages of development. And the reason for that is really based on the fact that we need to stay disciplined and focused on the near-term operating for our existing commercialized product. And you know, that takes, again, you know, a strong scientific foundation, a lot of blocking and tackling in these various markets. And so, you know, we need to focus for the moment on VASCEPA, VASCEPA, maximizing that opportunity. But with the extended IP runway, it certainly makes some of these other life cycle management opportunities possible in the longer term. I mean, we'll explore, but it will not detract from what our mission is, as Steve said. That is, we need to get VASCEPA, VASCEPA going at a faster rate. And we're encouraged by our progress. We have confidence in our plan, confidence in the team, and we're determined to do that. Thanks, Aaron. Thanks, Steve. You know, we shared a lot of information about the plan and the business today. You know, one question that our investors had around today's session is, you know, is it positioned for, you know, position the company for a sale or a partnership? Maybe we can comment on that. And we get that question all the time, right? We have a product that has tremendous potential. I mean, the cardiovascular burden globally is actually increasing. We've got a product that can certainly make a difference there. We are making commercial progress. We're making regulatory progress with more approvals, pricing and reimbursement progress, and that we're encouraged by that. We are in the early stages in a lot of countries. It may not feel that way because there's a long history, especially people that have been focused on the U.S. The U.S., we've been at it since 2013. That's quite a long time. But really, outside the U.S., we're still in the early stages. And some countries, we haven't even gotten started yet, but are encouraged by the potential in those countries. Now, that being said, we need to find a way, and we're open to explore any opportunity to get VASCEPA in the hands of as many patients as possible. We know, based on the data, what this drug can do and benefit so many in so many countries. And there are millions of patients that could benefit from it. And we'll be open to any opportunity that's presented, and we'll continue to explore. But in the meantime, we will execute the plan. Great. Thanks, Aaron. Turning attention to Europe, there is a lot of focus on, you know, making sure launches are successful. You know, as we think about in advance of pricing and reimbursement processes, what steps do we take to prime the market to refer faster access and uptake for those launches? Why don't we have Christos and David? They've been so hard at work in Europe and really made a difference. So maybe you guys want to address that. Yeah, maybe before Christos jumps in, maybe just at a high level, and I touched this earlier on, you know, in the presentation about the change that's taken place. So historically in Europe, you know, we invested heavily in building up, you know, teams within the country before we had the pricing reimbursement decision. And as I outlined in the presentation, you know, it can take two years to get a decision. You know, so that was a significant cost for the business. So in July of 2023, we made a decision that we would only invest significantly in a country once we had pricing reimbursement, but we would invest judiciously. And what we were investing in was in medical, you know. When we look at countries from pricing reimbursement, we're negotiating with the countries, but at the same time, we're building up medical advocacy in that country using our, you know, our medical employees. I think that's where we've learned significantly from other countries what works well. I think Christos can go into the details of how we pick the patient groups, how we do that. That's the big shift. We're saying, look, we spend our money on the medical advocacy within that country, identifying who are the right, you know, doctors, consultants in those countries that we need to engage in, how many times we need to engage in. Then once we've got the pricing and reimbursement, then we look to invest in hiring the commercial organization. So maybe Christos can go into detail of how we pick those, you know, key people that we need to talk to and who would be, you know, kind of key opinion leaders for those countries going forward. Exactly. And always under the umbrella, under the understanding that even every country is different, there is a common ground on how we need to prime the country, first of all, for access, but also for subsequent faster uptake. So going back even to the success factors I was mentioning earlier, there are two areas that anyway, these are the most critical ones in order for us to prime a market to get access, but also to be in a position for a fast uptake. One is what David said, strong medical advocacy, but this is not only identifying the right patients. And of course, with our experienced medical colleagues, we are able to identify the right key opinion leaders. But it's also making sure that they are in a position to advocate so strongly for the project and product that they can be, they can speak on our behalf, both to payers or future early adopters. That's the first one. And I would say that the second item, we always need to remember that we are introducing a breakthrough therapy, a new paradigm, yeah, which on top of all these LDL therapies that were launched recently, which means that despite, on top of just prepping, yeah, through the KOL community, we really need early enough to start educating the broader community about the need, the medical need that exists there, residual risk, and making sure they understand what is the TG role about. Now, and that's after, and these two can be very much supported by our medical teams, and this is where we invest, even pre-launch for the countries that we are pursuing reimbursement. Now, there is a difference, I would say, in the countries where I did speak openly earlier, where there is a higher probability to get reimbursement simply because we know their process, we see the level of advocacy there, we can open up our investment without necessarily bringing an army of reps early enough where we can start speaking about the very specific, very high-risk patient profile, even to a broader prescribing base through the different congresses and through the different peer-to-peer events that are happening. And the second part is this is a period where we do take advantage in order to identify this focus target group that we will need to start creating frequency on promoting right after reimbursement. Now, if we do feel that we have a more, a longer runway to educate even KOLs or if we do understand that it's going to take longer to get access, then this is where we are really prudent on how we are investing our resources. But medical, I would say, is the number one resource and the number one focus of this priming phase. Thank you, David. Thank you, Christos. Looking forward, you know, would we be open to acquiring another company or assets to build out portfolio or the pipeline? Yeah, so first of all, of course, I will say it again, we're focused on executing the plan for VASCEPA. And it's certainly a thought given the strength of our balance sheet that we've got $300 million in cash and no debt. But there are limitations to what a company our size can do. And right now, until we get further traction with VASCEPA and VASCEPA, our focus is on that, is driving growth. We think in the future there'll be that opportunity. But for right now, we're certainly focused. We get presented with a lot of options, but we're always listening, but listening more for the future. Great. Thanks, Aaron. You know, turning to the U.S., what else could we do to grow that market and for VASCEPA in that market? Yeah, I mean, you know, it's a generic market. And it's important to remember, one is how well we've done, even though you've seen, you know, we've seen declining revenue. It's four years since the first generic was introduced, and we still have a brand, and we still have half the volume. Obviously, it's cost us more to do that, but we've done what a lot of other companies simply could not do. And that's really what we focused on. So we've been very opportunistic in a generic market. What happened in the U.S., unfortunately, was the indication for cardiovascular risk reduction was granted in November of, I'm sorry, December of 2019. And it was a rocket ship in terms of growth. But then COVID and generic introduction occurred, and we scaled back our promotion. And that made all the difference because this is a promotion-responsive brand. And being able to grow the market really requires significant investment. And as I commented on earlier, we changed our strategy in the U.S. to focus less on sales and marketing because to stay profitable, we focused more on maintaining volume by making sure we secured managed care access. And we've done a very good job doing it. It's the best way we've had to run the business. And the team has done an outstanding job executing that. Now, we'll continue to be opportunistic. There are smaller accounts where we can get into and win that business. And the team does a very good job identifying that to maintain the volume. And then, of course, lastly, we'll be prepared to launch an AG when we think the time is right to launch an AG. And the thing to remember with an AG is it's a great opportunity, but it becomes another generic. So the strategy we have right now is still a better strategy than putting an AG on the market. Great. Thanks, Aaron. So looking at the rest of the world and specifically the opportunity in China, you know, what does that look like moving forward? Yeah, Eric manages that partnership in that market. And Eric, you want to comment on that? Yeah, sure. Thanks, Aaron. You know, as I noted, the scale of that opportunity is large. You know, you saw 330 million patients with cardiovascular disease in that country. So the need is great. And you know, we're pleased that VASCEPA is available in that country. And the teams, you know, have progressed very well. A lot of work leveraging the REDUCE-IT trial and getting that cardiovascular risk reduction from the authorities in China. But we're excited, you know, as Edding launches, you know, they're putting over 100 salespeople on the product, targeting, you know, over 300 of the key hospitals that are seeing cardiovascular patients, interventions, you know, all the things you heard Christos talk about as well as our targeting around the clinical benefits of VASCEPA and VASCEPA. So we're excited for how that effort is progressing here just in the first couple of months of their launch. Additionally, you know, NHC is the benefit too of getting this into as many hands as possible and to try and work towards that future expansion of access in their country, are working with the authorities for potential future listing on NRDL. So all these things really drive, you know, a good future for China. I'll just comment that just to build on your perspective a nd one is we recognize the opportunity, but Edding has been a very good partner. They're committed to this. They're passionate. They see the opportunity that we see, and we look forward to them making a significant impact. Great. Thanks, Aaron. Thanks, Aaron. One final question, you know, as we think about the future and the opportunity for VASCEPA and VASCEPA, how do you characterize that potential globally? And you know, what does growth look like in the next three to five years? Yeah, I think we have to break it up. First and foremost, it's tangible traction with the current plan. And what I mean by that is we need to see the countries where we've launched significant growth, and hopefully the growth accelerates. We're at the earliest stages in many of those countries, and we just need to keep that going. Hopefully, ultimately, we're able to expand beyond even the ACS population, but we can build quite a business off of just the recent ACS population that is not a small market. So that's what we need to see where we're commercialized. And that's true with the rest of the world. We need to see that growth. The countries where we're not launched or don't have pricing and reimbursement, we obviously need pricing and reimbursement. And we're glad to see more progress and this strategy, the change in strategy last year from the broad strategy where we went after the label. It's the good and the bad of the label in Europe. It's a very broad label. It's broader than the REDUCE-IT criteria, which is already broad. The downside is it affects the budget. So we have to be balanced in how we approach those reimbursement authorities. But the changes that Christos and David characterized are in fact making a difference. So we need to get more countries online and launch rapidly. One thing that will help in some of those countries is there's more time to build a scientific foundation and awareness. So hopefully once they launch, as we saw in the U.S., as I characterized about the U.S., if you have more time to build awareness once you launch, then hopefully there's faster uptake and that's what we'll see. So we do need to see that overall. We need to maintain our cash and manage that carefully. That's something else that we have to do for the company overall. But you know, we're focused on, I think what we need to focus on. The team is, we've got a really good team. We're executing very, very well right now. We know we need more. No one is satisfied. We need a lot more growth all the way around, and we're determined to get it. Great. Thanks, Aaron. So that concludes the Q&A portion of today's event. I'll hand it over to you, Aaron, for closing remarks. If you could go to the next slide, please. So I'll end where we started. And first of all, I want to thank everybody for joining us and taking the time. And we hope this was informative. We hope this, the visibility into what we're doing, it gives you greater clarity and greater confidence. There is a significant disconnect between the current share price and the unrealized value. And hopefully seeing some of this information and how we're approaching it makes a difference. We recognize the need to accelerate the growth, plain and simple. And we need to generate more shareholder value and drive the share price. The share price where it is today is just, it's hard to understand. But that's on us and on me in particular, and we've got work to do, and hopefully we're on the path to address that. So with that said, thanks again. We hope you'll tune in again as we go forward. We'll continue to communicate as we have tangible milestones. And with that said, have a good day.
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