Dublin-based biopharmaceutical group Amryt, which specialises in the development of treatments for rare diseases, has reported revenue of $62.8m for the second quarter of the year - up 35.9% on the same period last year.
That represents growth of 29.6% on the first quarter of the year.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 152% compared to the same quarter in 2020, while cash balances increased to $142.9m at the end of the quarter.
Operating profit before before finance expense was $4.1m for the second quarter, up from an operating loss of 12m in the same quarter last year.
Amryt said the results demonstrate the positive momentum and strong growth they are experiencing across the business.
"Our commercial products, metreleptin and lomitapide, continued to deliver solid growth across a host of metrics including revenue, EBITDA, cash generation and market expansion," said Joe Wiley, CEO of Amryt Pharma.
Given the strong performance of the business year to date, the company increased its full year 2021 revenue guidance to $210-$215 million which represents growth of 15%-18% on 2020.
"This latest upward revision of guidance demonstrates our confidence in the outlook for our underlying business and in addition, we expect that this guidance will be further enhanced by revenues from Mycapssa," Mr Wiley said.
Yesterday, Amryt completed the acquisition of the US business, Chiasma.
