Amryt Pharma PLC (LON:AMYT) has signed an agreement with Aegerion Pharmaceuticals Inc to significantly expand its exclusive licence agreement for Lojuxta into Russia and the Commonwealth of Independent States, as well as the non-EU Balkan States.
The AIM-listed firm said there may be up to 450 additional patients in the countries covered by the agreement who could benefit from Lojuxta, which treats a rare life-threatening disorder that causes abnormally high levels of "bad" cholesterol.
The company said this new agreement represents an increase of approximately 25% in the total number of addressable patients in the Amryt territories.
The biopharmaceutical company said it is actively seeking distribution partners in these new territories.
Amryt said this licence expansion extends the original agreement, secured in December 2016, which covers the European Economic Area, Middle East and North Africa, Switzerland, Turkey and Israel.
As part of this agreement, Amryt will formally become the Marketing Authorisation holder for Lojuxta in Europe which will marginally increase the level of royalties payable to Aegerion.
Joe Wiley, CEO of Amryt Pharma, said: “A core focus for Amryt in 2018 is to drive further growth for Lojuxta in new and existing territories.”
He added: “Following closely on from our market expansion in the Middle East, these new markets, with their significant increase in total addressable patients, assist us in this goal and will allow us to make Lojuxta available to HoHF patients for the first time in the Russia Commonwealth, the surrounding states, and the non-EU Balkan states.”
In early morning trading, Amryt Pharma shares were 1.4% higher at 17.95p.
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