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Dec 31, 2021
Amicus Therapeutics Q4 2021 Earnings Report
Amicus Therapeutics reported full-year financial results and corporate updates.
Key Takeaways
Amicus Therapeutics announced its full-year 2021 financial results, highlighting Galafold revenue growth of 17% year-over-year to $306 million. The company is focused on advancing Galafold growth and securing AT-GAA approvals for global launches. Strategic portfolio and R&D prioritization are expected to drive ~$400 million in operating expense savings through 2026, with profitability projected in 2023.
Galafold revenue grew 17% year-over-year to $306M in 2021.
Galafold global sales are growing at double-digits (15-20%) with $350M-$365M expected in 2022.
U.S. and EU regulatory filings are under review, and launch preparations are accelerating for AT-GAA in Pompe disease.
Strategic portfolio and R&D prioritization to drive ~$400M in operating expense savings anticipated through 2026.
Forward Guidance
Amicus Therapeutics anticipates Galafold global sales growing at double-digits (15-20%) with $350M-$365M in 2022.
Positive Outlook
- Continued Galafold growth worldwide.
- Securing AT-GAA approvals for global launches.
- Streamlining portfolio and aligning organization around a more focused R&D pipeline.
- Removing approximately $400 million in operating expenses through 2026.
- Commitment to profitability in 2023 and will continue to be self-sustaining without the need for any further equity financings.
Historical Earnings Impact
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