Amryt Pharma advancing on multiple fronts

Amryt is a global commercial-stage biopharmaceutical company focused on acquiring, developing and commercializing innovative treatments to help improve the lives of patients with rare and orphan diseases.

The company has a strong and growing portfolio of commercial and development assets.

Amryt Pharma PLC (AIM:AMYT, NASDAQ:AMYT) announced revenue growth of 14.6% for the third quarter after sales of its lipodystrophy treatment metreleptin soared 21.5%.

Revenue rose to US$56.5mln in the three months to end-September from US$49.3mln in the same period last year.

Metreleptin revenues rocketed by 21.5% to US$36.3mln in the third quarter. Excluding Latin America, where ordering has been sporadic, sales of the drug were 51.6% higher.

The biopharma company, which specialises in rare diseases, reaffirmed its full-year revenue guidance of UD$220mln-US$225mln, representing year-on-year growth of 20%-23%.

(, ) announced its support for Global Epidermolysis Bullosa (EB) Awareness Week, which is taking place October 25 – 31, 2021.

Joe Wiley, Amryt’s chief executive, said: “Epidermolysis Bullosa is a very distressing condition which severely impacts the lives of those living with EB and also has a profound impact on parents, families and all those involved in their care.

Amryt has extended the patents on its lead development candidate, Oleogel-S10 and its recently acquired commercial product, Mycapssa.

For Oleogel-S10, a treatment for skin condition EB, the US patent office has issued a new formulation patent to Amryt, which will be listable in the Approved Drug Products or “Orange Book”. This patent will expire in January 2039.

Amryt Pharma has had its price target of US$40 and ‘buy’ rating reiterated by Canaccord after the company hosted a virtual capital markets day.

Opinion leaders spoke on the near-term growth opportunities with Filsuvez in epidermolysis bullosa (EB) and Mycapssa in acromegaly, said the broker, which has underlined its optimistic view.

The broker continues to expect US approval of Filsuvez in EB on its November 30 PDUFA date, which should serve as a significant catalyst for the share price.

Amryt Pharma PLC (AIM:AMYT, NASDAQ:AMYT)‘s Joe Wiley talks to Proactive London’s Katie Pilbeam after reporting revenue growth of 14.6% for the third quarter after sales of its lipodystrophy treatment metreleptin soared 21.5%.

Revenue rose to US$56.5mln in the three months to end-September from US$49.3mln in the same period last year.

Much of this performance is down to Metreleptin where revenues rocketed by 21.5% to US$36.3mln in the third quarter. Excluding Latin America, where ordering has been sporadic, sales of the drug were 51.6% higher.