Amryt gets American regulatory boost

Shares in Irish-listed speciality drug firm Amryt Pharma rose by 4% yesterday on the back of the company gaining orphan drug designation in the US for one of its compounds.

Amryt, which effectively relaunched itself earlier this year via the reverse takeover of Dublin investment firm Fastnet Equity, yesterday announced the Food and Drug Administration (FDA), in the US, has granted orphan drug designation to its AP102 compound, which has the potential to treat patients suffering from acromegaly — a rare disorder resulting in abnormal body growth due to the body producing excessive growth hormone.

Acromegaly affects up to 13 in every 100,000 people in the US.