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Valeant transaction expected to close today, 7 December 2016
Leiden, The Netherlands, 7 December 2016: Pharming Group N.V. (“Pharming” or “the Company”) (EURONEXT: PHARM) today announced that it has closed a new financing round, comprising three financial instruments and a rights issue, providing a total of €104 million before costs. The financing will be used to pay the upfront amount of US$60 million (approximately €56.1 million) for completion of the transaction with subsidiaries of Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) signed on 9 August 2016 for Pharming to acquire the commercialization rights to its own high quality Heritary Angioedema therapy RUCONEST® in North America. The balance after costs of approximately €19.3 million will be used to boost sales of RUCONEST® in North America as well as in the additional countries in Western Europe and the Middle East in which Pharming is selling the product directly.