Amryt Pharma looking to expand its drug portfolio
Irish-listed orphan drug develpment company Amryt Pharma is looking to expand its portfolio of treatments for rare diseases.
In a trading update showing 14% revenue growth to €7m for the first half of the year, Amryt said its is “actively seeking to acquire” new commercial-stage assets that can further leverage the company’s established “commercial, medical and regulatory infrastructure”. “We are very well positioned to continue to build and scale Amryt into a world leader in rare and orphan diseases,” said chief executive CEO Joe Wiley.
The company’s shares jumped by over 2.5% on the back of the update.
Amryt currently has two main assets — the commercial drug Lojuxta, which treats a life-threatening disorder causing abnormally high levels of so-called ‘bad’ cholesterol, and the development drug AP101, which is seen as a possible treatment for rare skin condition Epidermolysis Bullosa (EB).
Amryt recently followed up a number of international distribution deals for Lojuxta with its first ‘reimbursement’ deal, with Britain’s NHS, which sees drugs issued to patients through their health services.
The company said that phase-3 clinical trials for AP101 are progressing well, with interim efficacy analysis expected to be completed in the last quarter of this year and top-line data from the tests expected during the second quarter of next year.
The EB treatment market is forecast to be worth in the region of €1bn.
“First half revenues of €7m are in line with expectations and we believe that revenue growth will continue to build into the second half, with organic growth supported by distributor markets and reimbursement,” said Davy’s Andrew Young.
