Amryt Pharma signs distribution deal for Saudi Arabia
Irish-listed Amryt Pharma, which is focused on finding treatments for rare and orphan diseases, has signed a distributorship agreement with Faisal Musaed El Seif Saudi Pharmaceutical Company (El Seif) for Amryt's products in Saudi Arabia.
The agreement covers Lojuxta (lomitapide) and AP101, the company's clinical stage product, currently in Phase 3 trials.
Prior to this agreement Amryt had acquired exclusive marketing rights for Lojuxta in Europe, the Middle East, North Africa, Turkey and Israel.
Lojuxta is a treatment for Homozygous Familial Hypercholesterolaemia ("HoFH"), a rare, life-limiting disease, which impairs the body's ability to remove bad cholesterol from the blood.
The disease process starts before birth and progresses rapidly and typically results in extremely high bad cholesterol levels in blood, leading to aggressive and premature narrowing and blocking of blood vessels. Left untreated, heart attack or sudden death may occur in childhood or early adulthood.
Last month the company announced that the majority of its board of directors had purchased shares in the company.
The share purchase came after the company announced in September that it was looking to raise €15m.
Shares were unchanged yesterday at 20.50cents each