Amryt Pharma PLC (LON:AMYT) shares gained 6% on Tuesday after news the firm signed its fifth new distribution deal in approximately three months for Lojuxta, which is used to treat a rare life-threatening disease.
The agreement, covering Lebanon, Jordan and Syria, is with Pharaon Healthcare-Droguerie Mercury S.A.L , a full service distributor in pharmaceuticals.
Lojuxta is a therapy used to treat adult patients with HoFH, a genetic cholesterol disorder.
The AIM-listed company said that there are approximately 40 patients with HoFH in the countries covered by this agreement, with Lebanon in particular having a pronounced ‘founder effect.”
Dr. Joe Wiley, Amryt's chief executive officer, said: “This new agreement should help to ensure we can respond effectively to physicians’ requests regarding their patients suffering with HoFH.”
In a separate statement, Amryt Pharma also announced the appointment of Jordi Casals as the company’s head of Europe.
Casals, who has over 20 years’ experience in the pharmaceutical and biotech industry, will be responsible for leading and further developing Amryt’s European operations, including product launches.
The company said his initial focus will be on the continuing sales growth of the firm’s commercial asset, Lojuxta.
Wiley said: “His significant commercial experience of European markets will help us to drive and further develop Amryt’s growth across this key region.”
In afternoon trading, Amryt Pharma shares were 6.2% higher at 20.25p.
-- Adds share price --