Amicus Therapeutics ( (FOLD) ) has released its Q4 earnings. Here is a breakdown of the information Amicus Therapeutics presented to its investors.
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Amicus Therapeutics is a global biotechnology company dedicated to developing and commercializing innovative medicines for rare diseases, with a strong focus on patient-centered solutions.
In its latest financial report, Amicus Therapeutics announced substantial growth for the fiscal year 2024, with total revenue reaching $528.3 million, marking a 33% increase from the previous year. The company also provided optimistic guidance for 2025, anticipating continued revenue growth and achieving positive GAAP net income in the latter half of the year.
Key financial highlights include a significant increase in net product revenues, driven by strong performance of its flagship products, Galafold and the Pombiliti + Opfolda therapy. Galafold alone generated $458.1 million in sales, reflecting an 18% year-over-year growth. The Pombiliti + Opfolda combination therapy, which has been successfully launched in several major markets, saw a remarkable 507% increase in sales compared to 2023. Additionally, Amicus concluded multiple pricing and reimbursement agreements across Europe and secured regulatory approvals in Australia, with expectations for further approvals in Canada and Japan.
Looking ahead, Amicus Therapeutics is poised for continued growth, projecting total revenue growth between 17% and 24% for 2025. The company aims to expand its market presence for Galafold and Pombiliti + Opfolda, with an eye on surpassing $1 billion in total sales by 2028. Amicus remains committed to leveraging its infrastructure to enhance its leadership in the rare diseases sector, supported by its robust financial position and strategic vision.
