Pharming Group reports strong interim financial results for the first nine months of 2019

Highlights:

Compared with the first nine months of 2018 (on a like-for-like basis):

• Revenues up 26%, operating profit up 38%, net profit up 73%

Compared with the previous quarter ended 30 June 2019:

• Revenues up 7%, operating profit up 46%, net profit up 52% (after additional €2.5 million provision for contingent consideration)
• Maintained cash position despite paying a €17.9m upfront to secure the rights to leniolisib from Novartis

Good progress in expanding and extending the pipeline:

• Strategic investment in the license from Novartis of the new leniolisib (CDZ173) program, the first new program from outside the Company’s platform
• Initiation of the first clinical study of RUCONEST® in pre-eclampsia

"I am pleased to report strong results again today, despite the ongoing intense competition in the market. The continued growth for RUCONEST® is a result of the increasing number of patients benefiting from the product in acute attacks of HAE"

- Sijmen de Vries - CEO