PharmaMar Increases Investment in R&D for Oncology by 23%

PharmaMar is committed to oncology research. The Spanish pharmaceutical company invested €48 million in oncology research in 2022, a figure that represented an increase of 23.3% compared to the previous year. Furthermore, the firm has confirmed that the company has one of the highest investment ratios per employee in Europe, with €172,000 per employee per year.

Currently, the pharmaceutical company participates in the area of ​​oncology with thirteen clinical trials that are in different phases and states, working with different molecules and different types of cancer. Specifically, the company has highlighted the ‘Lagoon’ phase III confirmatory trial, aimed at small-cell lung cancer.

Luis Mora, director of the oncology, virology, and genetic identity units at PharmaMar, has assured that “almost half of the income obtained throughout the year is reinvested in research, which places us as one of the Spanish companies that most “We invest in R&D in relation to their sales.” The manager added that “our goal is to be able to offer patients with unmet medical needs a therapeutic alternative, and we can only make this milestone a reality through research.”

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PharmaMar has achieved a 37% success rate in its research, with three drugs approved

The company has confirmed that, as a result of its commitment to R&D in oncology, it has achieved a success rate of 37% in its research, compared to the 10% average recorded in the pharmaceutical sector. Specifically, of the eight compounds developed in clinical trials, the company has obtained approval for three drugs from different drug agencies.

Two weeks ago, the Spanish pharmaceutical company informed the National Securities Market Commission (CNMV) that it had raised its treasury shares to 2.54% of the group’s capital, which represents a historical maximum since there are records. The acquisition will affect a maximum of 540,000 shares, which represent approximately 2.94% of the company’s share capital, and its maximum monetary amount amounts to €15 million.

PharmaMar is the direct owner of 100% of the share capital of Sylentis and Genómica. Currently, both hold 284 shares and 115 shares of PharmaMar, respectively. The biopharmaceutical company closed the first half of 2023 with a net profit of €6.4 million, compared to €34.9 million in the same period of the previous year, which translates into a decrease of 82%.

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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