Amryt posts €1.35m sales as pipeline drugs advanced
Company formed last year through reverse takeover of former oil and gas firm Fastnet
Amryt has started a phase three trial for a potential treatment for a rare genetic skin disorder. Photograph: iStock
Amryt Pharma, the orphan drug development company that was subject to a reverse takeover of former oil and gas group Fastnet last year, posted €1.35 million of sales last year.
The company said the figure includes one month’s revenue from a “transformational” deal to sell a treatment for a cholesterol disorder that can lead to heart attacks in childhood. Amryt, led by chief executive Joe Wiley, secured exclusive rights in December to market US-based Aegerion Pharmaceutical’s drug called Lojuxta, which is used to treat disorders that impair the body’s ability to remove “bad” cholesterol from the blood, across Europe, the Middle East and North Africa.
Amryt said revenues from the drug are running at €10.5 million a year and that it has “significant growth potential”.
The company said earlier this week it had begun so-called phase three clinical trials of a potential treatment for a rare genetic disorder, which causes exceptionally fragile skin.
Amryt posted a net loss of €7.8 million for the year.