Pharming Group reports strong interim financial results for the first nine months of 2019
Pharming Group N.V. presents its (unaudited) interim financial report for the first nine months and the third quarter ended 30 September 2019.
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
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