Record sales for Irish rare disease specialist Amryt

Company upgrades forecasts as it completes Chiasma takeover

Irish rare disease specialist Amryt has reported record turnover in the second quarter of 2021 alongside upgraded full-year forecasts.

Second quarter revenues for the group which now has three products in the market, jumped close to 36 per cent year on year to $62.8 million (€53 million). That marked a 29.6 per cent jump in sales compared to the previous three months.

It recorded an operating profit, before debt servicing, of $4.1 million. That compared with a loss of $12 million on the same measure this time last year.

"Importantly, our Ebitda has increased 152 per cent compared to the same quarter in 2020 and our cash balances increased to $142.9 million at the end of the quarter," said chief executive Joe Wiley, who added that it had been a "extremely busy and productive period" for the company.


Amryt raised its full year revenue guidance to between $210 million-$215 million, from $205 million-$210 million previously.

The company this week announced the completion of its reported $330 million acquisition of Chiasma, which has developed a technology that allows treatment previously confined to injection to be given orally instead, making it easier for patients to self-medicate.

Amryt sells two drugs, Lomitapide – branded Lojuxta in the European Union – and Metreleptin, known as Myalepta, for treating cholesterol and similar conditions.

Its Oleogel-S10, a drug for treating a rare but distressing condition called epidermolysis bullosa, or butterfly skin, which affects children, has been accepted by the FDA for priority review with a decision expected by November.

The Chiasma deal also brings another product, Mycapssa, for a condition called acromegaly where the body produces excessive growth hormone, which leads to enlarged hands, feet and facial features.

Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times