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Subsequent Events | 12 Months Ended
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Dec. 31, 2014
Subsequent Events | (18) Subsequent Events The Company has evaluated subsequent events from December 31, 2014 through the date of the issuance of these consolidated financial statements. On January 29, 2015, the Company granted a total of 2,564,251 RSUs and 1,622,500 stock options to employees under the 2011 Plan. The RSUs vest annually over a three year period and the stock options vest monthly over a four year period. On February 26, 2015, Amarin entered into a Development, Commercialization and Supply Agreement (the “DCS Agreement”) with Eddingpharm (Asia) Macao Commercial Offshore Limited (“Eddingpharm”) related to the development and commercialization of Vascepa in Mainland China, Hong Kong, Macau and Taiwan (the “Territory”). Under the terms of the DCS Agreement, Amarin granted to Eddingpharm an exclusive (including as to Amarin) license with right to sublicense to develop and commercialize Vascepa in the Territory for uses that are currently commercialized and under development by Amarin based on Amarin’s MARINE, ANCHOR and ongoing REDUCE-IT clinical trials of Vascepa. Under the DCS Agreement, Eddingpharm will be solely responsible for development and commercialization activities in the Territory and associated expenses. Amarin will provide development assistance and be responsible for supplying finished, and later bulk drug product at defined prices under negotiated supply terms. Amarin will retain all Vascepa manufacturing rights. Amarin received a non-refundable $15.0 million up-front payment and is eligible to receive development, regulatory and sales-based milestone payments of up to an additional $154.0 million. In addition, Eddingpharm will pay Amarin tiered double-digit percentage royalties on net sales of Vascepa in the Territory escalating to the high teens. Eddingpharm has agreed to certain restrictions regarding the commercialization of competitive products globally and Amarin has agreed to certain restrictions regarding the commercialization of competitive products in the Territory. Amarin and Eddingpharm agreed to form a joint development committee to oversee regulatory and development activities for Vascepa in the Territory in accordance with a negotiated development plan and to form a separate joint commercialization committee to oversee Vascepa commercialization activities in the Territory. Development costs will be paid by Eddingpharm to the extent such costs are incurred in connection with the negotiated development plan or otherwise incurred by Eddingpharm. Eddingpharm will be responsible for preparing and filing regulatory applications in all countries of the Territory at Eddingpharm’s cost with Amarin’s assistance. The DCS Agreement also contains customary provisions regarding indemnification, packaging, record keeping, audit rights, reporting obligations, and representations and warranties that are customary for an arrangement of this type. The term of the DCS Agreement expires, on a product-by-product basis, upon the later of (i) the date on which such product is no longer covered by a valid claim under a licensed patent in the Territory, or (ii) the twelfth (12th) anniversary of the first commercial sale of such product in Mainland China. The DCS Agreement may be terminated by either party in the event of a bankruptcy of the other party and for material breach, subject to customary cure periods. In addition, at any time following the third anniversary of the first commercial sale of a product in Mainland China, Eddingpharm has the right to terminate the DCS Agreement for convenience with twelve months’ prior notice. Neither party may assign or transfer the DCS Agreement without the prior consent of the other party, provided that Amarin may assign the DCS Agreement in the event of a change of control transaction.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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