Britain

Amryt Pharma’s transformation reflected in nine-month update

Amryt Pharma PLC (LON:AMYT) chief executive, Dr Joe Wiley, described as “momentous and transformational” the first nine months of the companys financial year.

It is a period in which it completed the acquisition of Aegerion Pharmaceuticals Inc, which gave it full control of the Lojuxta cholesterol treatment.

In tying up the transaction it went from a single-product, Europe-focused enterprise to an operation with infrastructure around the globe and two orphan treatments.

In its update Amryt said the Aegerion integration was “actively underway” and synergies from the deal “on track”.

The groups transformation was reflected in its financial performance with revenues up almost 20% at $113.1mln in nine months ended September 30.

The stand-out performer was Myalept, used to treat diabetes and various forms of dyslipidemia (abnormal numbers of lipids in the blood).

Its sales rose almost 35% to $61.7mln following its successful European roll-out.

Turning to AP101, the company said it was continuing to recruit an additional 48 patients to its phase IIIRead More – Source