Pharming Group reports fourth quarter and full year 2023 financial results

Pharming Group presents its preliminary (unaudited) financial report for the three months and full year ended 31 December 2023.

Sijmen de Vries, Chief Executive Officer, commented: “We are pleased to have delivered an excellent year in which we transformed Pharming into a multiproduct, commercial rare disease biopharmaceutical company. We grew Ruconest revenues by 10% in 2023. This demonstrates the continued need for, and importance of, Ruconest as a trusted cornerstone of treatment in the competitive HAE market.”

Fourth quarter and full year 2023 highlights

Commercialized assets – Ruconest marketed for the treatment of acute HAE attacks

Ruconest performed strongly in the fourth quarter of 2023, with record revenues of US$73.3 million, a 34% increase compared to the fourth quarter of 2022. Ruconest revenues for the full year 2023 were US$227.1 million, a 10% increase compared to 2022.

The U.S. market contributed 97% of 2023 revenues, while the EU and Rest of World contributed 3%.

The Ruconest revenue acceleration in the second half of 2023 can be attributed to strong performance in leading key revenue indicators in the U.S. including new physicians prescribing Ruconest, new patient enrollments including high frequency attack patients, and the total number of patients.

Over 70 Ruconest new patient enrollments were achieved for four quarters in a row. Total enrollments in 2023 were up 25% vs. 2022 and were a significant driver of the strong Ruconest revenue growth. The Ruconest physician prescriber base increased by 13% during the year, in many cases adding previously unknown HAE prescribers.

(Source: Pharming)