Amryt Pharma (AIM: AMYT) has signed a distribution agreement with Swixx BioPharma AG (“Swixx”), a Swiss pharmaceutical agent operating in Central and Eastern Europe (“CEE”).
With 500 employees and sales exceeding €200m in 2020, Swixx is one of the fastest-growing dedicated agents for biopharma and self-medication innovative companies across CEE.
Specifically, Amryt, a commercial stage pharmaceutical firm, has now appointed Swixx as exclusive distributor of its therapeutic Lojuxta® (lomitapide) across 17 jurisdictions in CEE.
Lojuxta® is a prescription medicine used alongside diet and other lipid-lowering treatments, including low-density lipoprotein (LDL) apheresis where available, in adults with homozygous familial hypercholesterolaemia (HoFH), a rare life-threatening condition.
Today’s agreement follows Amryt’s appointment of Swixx in June 2020 as exclusive distributor of its leptin replacement therapy Myalepta® (metreleptin) across CEE.
Shares in Amryt Pharma have increased in value by over 20% since September 2020 and opened up 1% today at 197p.
The agreement represents new territories for the Group to further accelerate its revenue growth, augmenting sales already being generated through its existing salesforce in the EU.
Under the agreement, Swixx will distribute Lojuxta® from October 2020 in Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Estonia, Kosovo, Latvia, Lithuania, Montenegro, North Macedonia, Poland, Romania, Serbia and Slovakia. In addition, from January 2021, Swixx will expand its distribution of Lojuxta® into Czech Republic, Hungary and Slovenia.
“Lomitapide is an important contributor to Amryt’s commercial performance and growth and today’s announcement demonstrates the progress we are making in expanding lomitapide’s reach in existing and new territories,” said Joe Wiley, CEO of Amryt Pharma.
He added, “Also, we are excited to grow and consolidate our existing partnership with Swixx who currently distribute metreleptin exclusively across the CEE territories.”
Lojuxta® is approved as an adjunct to a low-fat diet and other lipid-lowering medicinal products for HoFH in the US, Canada, Columbia, Argentina and Japan. The product trades under the trade name Juxtapid® and in the EU under the trade name Lojuxta®.
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