(Alliance News) - Amryt Pharma PLC on Thursday said the integration and delivery of synergies from its Aegerion Pharmaceuticals Inc acquisition are progressing on track.
Shares in the Dublin-based biopharmaceutical company were up 10% at 119.50 pence in London on Thursday.
In September, Amryt completed the reverse takeover of Aegerion Pharmaceuticals Inc - a subsidiary of Canada's Novelion Therapeutics Inc.
Amryt said the delivery of synergies from Aegerion were ahead of the company's initial expectations. As at December 16, the company said it had cash of USD60.9 million which is "significantly ahead of the company's expectations at this point".
"The operational synergies delivered so far have resulted in a higher cash balance at this point in time than we initially forecast and we are also making solid progress across a number of other financial metrics," Amryt Chief Executive Joe Wiley said.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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