(Alliance News) - Amryt Pharma PLC on Tuesday said pro forma revenue was up in the first nine months of the year, with higher revenue from its two newly acquired assets.
The biopharmaceutical firm, which focuses on rare and orphan diseases, completed its all-paper acquisition of Aegerion Pharmaceuticals Inc on September 24, gaining two commercial assets - Lojuxta and Myalept.
On a pro forma basis, assuming the acquisition took place on January 1, 2018, revenue for the nine months ended September 30 was USD113.1 million versus USD94.5 million a year before - a growth rate of 20%.
Lojuxta treats familial hypercholesterolemia, a genetic disease in which patients have excessive cholesterol. It generated USD51.1 million of revenue in the first three quarters of 2019 compared to USD48.0 million in 2018 for a 6.5% growth rate.
Myalept, meanwhile, treats generalised lipodystrophy, a genetic disorder in which a person experiences near-total loss of body fat. Its generated USD61.7 million of revenue in the nine months to September, up 35% from USD45.8 million in 2018.
"The first nine months of 2019 have been momentous and transformational for Amryt. Through the acquisition of Aegerion, we have evolved from a company with a single asset on the market in [Europe, the Middle East and Africa] to become a global biopharmaceutical company with two orphan disease products and a commercial infrastructure across North America, EMEA and [Latin America]," said Chief Executive Joe Wiley.
Wiley added: "Looking to our pipeline, our late stage development asset, AP101, for the treatment of wound-related complications in [epidermolysis bullosa], continues to enrol patients in the phase 3 study following the encouraging outcome of interim safety and efficacy analyses conducted by the Independent Data Monitoring Committee. The study is on track to be fully enrolled in the coming months.
"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."
Shares in Amryt were up 2.5% at 123.00 pence in London on Tuesday morning.
By Anna Farley; annafarley@alliancenews.com
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