'Interesting times ahead' - Van Lanschot upgrades Pharming to 'buy'

Pharming

15/09/2023 08:11

** Van Lanschot upgrades Pharming  PHAR.AS  to "buy", as it
sees growth in the Dutch biopharmaceutical company's second
product Joenja 
    ** The brokerage recognises opportunity in Joenja, a drug
used at patients under 12 suffering from a rare immunodeficiency
disease APDS (activated phosphoinositide 3-kinase delta
syndrome) 
    ** It highlights Joenja is the first and the only approved
treatment option in APDS and it could bring revenue of about
$320 million at peak sales for the company
    ** The broker expects the anticipated regulatory filing for
Joenja to be successful due to the lack of treatment option for
the disease, which it forecasts to result in a significant sales
growth in the near- to mid-term
    ** Van Lanschot does not see risk in patents for Ruconest, a
drug used to treat sudden attacks of severe swelling in HAE
(hereditary angioedema), expiring in 2026
    ** It says it does not believe the patent expiry represents
a threat, as it deems the commercial opportunity for Ruconest
"relatively modest" and highlights the manufacturing of the drug
requires a unique and complex process 

 (Reporting by Laura Lenkiewicz)
 ((Laura.lenkiewicz@thomsonreuters.com))