Irish pharma group Amryt reports record revenues for second quarter

Irish drugmaker Amryt Pharma has reported record financial results for the second quarter of 2022, with its revenue rising 9.2 per cent year on year to $68.5 million (€67.2 million).

The Nasdaq-listed company, which specialises in treatments for rare diseases, said it had seen 7.8 per cent year-on-year growth in metreleptin sales, with revenues from this drug – used to treat a condition that causes patients difficulties with the way their bodies store fat – rising to $46.4 million (€45.3 million) in the April-June period.

The year-on-year increase in metreleptin revenues was 49.9 per cent if the impact of a sporadic Latin America order from the second quarter of 2021 is excluded from the comparison.

It also highlighted that its drug Filsuvez has been approved in the European Union for the treatment of dystrophic and junctional epidermolysis bullosa patients aged six months and older.

Irish renters living in fear: ‘We can’t get mortgages, even though I’ve been paying rent for 12 years’

---

Cathal Lombard’s Olympics story sounded too good to be true. In the end, it was

---

David McWilliams: Aer Lingus pilots are the Donnybrook Fair battalion of an Aldi revolution

---

In pictures: Taylor Swift’s exhilarating Eras tour concert in Dublin

---

The company now has four growing commercial products treating rare diseases.

The company reaffirmed its full-year revenue guidance of $260 million-$270 million (€254 million-€264 million), which would represent 17-21 per cent growth, and said its stock repurchase programme was under way.

Amryt Pharma chief executive Joe Wiley said it had been “another excellent quarter” for the company.

“Our record Q2 revenues of $68.5 million demonstrates the strong performance our business is delivering,” he said.

“Overall, these results demonstrate the robust growth we are experiencing and represent our 10th consecutive quarter of positive Ebitda generation.”

Mr Wiley said the EU’s approval of Filsuvez was “one of the most significant milestones” in its history and represented “a major positive development” for European patients who suffer from the debilitating skin-blistering condition.