DAVY VIEW

Amryt’s Q3 update provides a first look at the combined company following the completion of the Aegerion deal on September 24th. The business is already growing revenues by 20% on a combined pro-forma basis, driven by drug sales of lomitapide and metreleptin. Looking forward, we think there are meaningful synergies from the combined entity and an exciting portfolio, which we will explore in a detailed research report in the near future. In the meantime, our forecasts remain under review.