Pharming Group's growth potential strong even as lead drug sales slow- Oppenheimer

Lifeist Wellness

25/03/2022 13:47

** Brokerage Oppenheimer stays bullish on Netherlands-based
Pharming Group N.V  PHAR.N , even after the company reported
lower 2021 revenue as brokerage is optimistic about the
potential of co's pipeline
    ** PHAR last week said 2021 revenue decreased by 6% mainly
due to lower U.S. sales of its lead drug, Ruconest, intended for
the treatment of a swelling disorder called hereditary
angioedema (HAE), due to a negative impact from COVID-19 crisis
    ** Brokerage says it still expects some revenue fluctuations
for Ruconest due to the pandemic as well as rising competition
in the HAE market
    ** Says with slowing sales of Ruconest, focus shifts to its
drug candidate, leniolisib, which is in a late-stage study for a
disorder affecting the immune system
    ** Still, brokerage calls Ruconest a "pipeline in a product"
and is optimistic about the drug's potential to expand into
other diseases 
    ** Brokerage also flags that there are multiple drivers for
co's shares this year, including the launch of leniolisib, which
company is targeting in the U.S. and Europe from Q1 2023 onwards


 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))