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Amryt Pharma's transformation reflected in nine-month update

The acquisition of Aegerion Pharmaceuticals has transformed it from a single-product, Europe-focused enterprise to an operation with infrastructure around the globe and two orphan treatments

Amryt Pharma PLC -
Amryt said the Aegerion integration was “actively underway” and synergies from the deal “on track

Amryt Pharma PLC (LON:AMYT) chief executive, Dr Joe Wiley, described as “momentous and transformational” the first nine months of the company’s 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 trading update, Amryt said the Aegerion integration was “actively underway” and synergies from the deal “on track”.

The group’s 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 III study. Developed to treat rare genetic disorder where skin blisters to the touch, the drug was awarded fast-track status by the US regulator.

"Amryt is now very well positioned to execute on our strategy of becoming a global leader in the rare and orphan disease space and most importantly, delivering therapies to patients with unmet needs," said CEO Wiley.

Quick facts: Amryt Pharma PLC

Price: 195 GBX

AIM:AMYT
Market: AIM
Market Cap: £317.46 m
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