Amryt Pharma has announced almost 22% growth in its revenues for 2021 and said it was expecting revenue for 2022 in the range of $260-$270m which represents growth of 17% to 21%.
The company, which focuses on the development and commercialisation of treatments for orphan and rare diseases, said its revenues rose to $222.5m in 2021 from $182.6m in 2020 on the back of a 32% increase in metreleptin revenues.
Its operating loss before finance expense for the year rose to $71.2m from $46.5m in 2020.
During the year, the company completed the acquisition of Chiasma and said today that the integration process of the company is well advanced.
Joe Wiley, CEO of Amryt Pharma, said today's strong results show the positive performance and growth that its three commercial products are delivering across a host of metrics including revenue, EBITDA, cash generation and market expansion.
"This strong revenue performance drove our eighth consecutive quarter of positive EBITDA and generated full year operating cash flows before Chiasma deal costs of $29.8m", the CEO added.
The company also recently refinanced its term debt facilities which further strengthens its balance sheet, significantly reduces its interest costs and extends the maturity profile of those facilities up to 2027.
"Given the strength of our balance sheet and the sustained performance and growth of our business, the board has approved a share repurchase program of up to $30m that reflects the confidence we have in Amryt's future", the CEO said.
