THIS PRESS RELEASE AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION IN WHOLE OR IN PART , DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS PRESS RELEASE.

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.

Click here to download the full press release

print