Pharming Group N.V. has published its preliminary (unaudited) financial results for the year ended 31 December 2014.
From the financial highlights:
- Revenues from operations increased to 21.2 million EUR (2013: 6.8 million EUR) as a result of higher license fees, including the receipt of a 20.0 million USD (16 million EUR) milestone from US partner Salix Pharmaceuticals, Inc. and increased product sales to 3.0 million EUR (2013: 0.9 million EUR) as a result of increased sales in the EU and initial sales in the US of 0.3 million EUR.
From the operational highlights:
- Following the FDA approval for the treatment of acute attacks of angioedema in patients with HAE in July 2014, Ruconest was launched by partner Salix in the US in November 2014. Receipt of 20.0 million USD milestone payment in November 2014 from Salix for first commercial sale of Ruconest in the US.
- Announced the initiation of direct commercialization activities for Ruconest in Austria, Germany and the Netherlands; hired a small team of HAE commercialization and medical affairs experts.
- Initiated a randomized double blind placebo controlled Phase II clinical trial to investigate Ruconest for the prophylaxis of HAE. The first patient was enrolled in early January 2015, patient enrollment for the study continues.
(Source: Pharming Group N.V.)