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Amryt Pharma making strong progress with momentum continuing to build

The company is a rarity among the junior drug companies because it has a successful and revenue generating product out on the market and a promising drug in the final stages of clinical development
researcher filling a vial at microscope
It expects to deliver an interim read-out from its phase III study in the fourth quarter

Amryt Pharma PLC (LON:AMYT) said strong progress had been made commercially and in the clinic in the first-half of 2018.

The company, which develops and sells drugs for rare and orphan diseases, posted revenues of €7mln, up 14% on the year earlier. Based on the current run rate, the year-end result will be in line with forecasts.

Amryt derives its sales from Lojuxta a drug that treats a rare condition called Homozygous Familial Hypercholesterolaemia (HoFH), which results in aggressive and premature heart disease.

The group has developed a network of distributors for the product, while in the UK it made a significant breakthrough by being reimbursed by NHS England for Lojuxta.

CEO pleased 

Chief executive Joe Wiley said he was “pleased by the progress” made in the first-half.

“Our focus on adoption of and access to Lojuxta in new and existing territories is already delivering significant returns and we are confident that this positive momentum will continue in 2018 and beyond,” he added.

Amryt also has a phase III drug, AP101 for epidermolysis bullosa (EB), a rare genetic skin disorder.

Update expected in Q4

It said its EASE clinical study was “progressing well” with an interim efficacy analysis expected in the final quarter of the year.

The company has also licenced into the portfolio an early-stage EB treatment, a non-viral gene therapy platform with preliminary data. Results from pre-clinical work are expected towards the end of the year.

It told investors it was “actively seeking to acquire new commercial stage assets that can further leverage its established commercial, medical and regulatory infrastructure”.

Financially, Amryt is well placed with €12.2mln in the bank at the end of June.

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Amryt Pharma PLC Timeline

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