** Shares of drug developer Amarin AMRN.O up 11% at $14.01 premarket

** Co enters into long-term license and supply agreement with Italy-based pharmaceutical firm Recordati RECI.MI to sell Vazkepa in 59 countries, including Europe

** Vazkepa is approved to treat high levels of triglycerides — blood fat that can increase risk of heart disease in the European Union

** The drug is sold under the brand name Vascepa in the United States

** As part of the deal, Amarin will get $25 million in upfront payment, and is eligible to receive up to $150 million if certain sales milestones are achieved

** As of last close, stock is up about 30% YTD

(Reporting by Bhanvi Satija in Bengaluru)

((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91 9873062788;))