Amicus Therapeutics Q4 2024: Key Contradictions in Patient Switching, Revenue Assumptions, and Competitive Landscape

These are the key contradictions discussed in Amicus Therapeutics' latest 2024 Q4 earnings call, specifically including: Patient Switching Dynamics, Revenue Distribution Assumptions, and Competitive Dynamics:



Galafold Performance and Market Dynamics:
- Galafold, Amicus Therapeutics' precision medicine for Fabry disease, reported revenue of $458 million for 2024, representing 18% growth year-on-year or 19% at constant exchange rates.
- Galafold's growth was driven by robust commercial performance with more than 2,700 people living with Fabry disease taking the medicine globally. The largest rate of new patient demand was observed since the first years of launch.

Pombiliti and Opfolda Launch Success:
- Pombiliti and Opfolda, Amicus' novel therapy for late-onset Pompe disease, reported revenues exceeding $70 million globally for the full year 2024.
- The therapy's success is attributed to strong global demand and effective launches in countries like the US, Germany, Austria, Spain, and the UK, with plans to expand geographic reach in 2025.

Financial milestones and Outlook:
- Amicus achieved total revenues of $528 million for 2024, marking 32% growth over the previous year, or 33% on a constant currency basis.
- This growth was supported by strong commercial execution and the contribution of both Galafold and Pombiliti and Opfolda to the revenue mix.

Strategic Focus on Diagnosis and Accessibility:
- Amicus is actively engaged in initiatives like the collaboration with OM1 to drive better diagnosis of undiagnosed Fabry patients through machine learning, aiming to increase detection and treatment.
- Efforts to broaden patient access for Pombiliti and Opfolda are underway, with anticipated approvals in countries like Canada and Japan to facilitate further geographic expansion.