PharmaMar increases its portfolio. The Spanish pharmaceutical company has announced that it has received $10 million from Janssen upon reaching a commercial milestone established in the licensing agreement related to Yondelis (trabectedin) in the United States. In August 2019, PharmaMar signed a new agreement with the company owned by Johnson & Johnson, which replaced the one from 2001.
Under the old agreement, Janssen reserved the right to exclusively sell and distribute Yondelis in the United States. Currently, the drug is approved in more than seventy countries for the treatment of white tissue sarcoma, and also in some countries for ovarian cancer.
Specifically, Yondelis is a synthetically produced antitumor compound originally isolated from ecteinascidia turbinata, a type of sea squirt. The drug exerts its anticancer effects primarily by inhibiting active transcription, a type of gene expression on which proliferating cancer cells are especially dependent.
If you want to read more about PharmaMar and when will start distribution on Yondelis, download for free our companion app. The Born2Invest mobile app keeps its readers up to date with the most important financial news of the day.
The drug that PharmaMar will distribute is approved in more than seventy countries for the treatment of white tissue sarcoma
Last week PharmaMar announced its third-quarter results. In the document, it reported a net profit of €8 million, compared to the €43.4 million it registered in the same period of 2022, a decrease of 82%. In addition, the group recorded total revenues of €117.6 million, compared to the €145.5 million reported in the same period of the previous year.
In fact, the firm assured that “this variation in revenue is mainly due to the introduction into the European market of two generic trabectedin products (Yondelis), which has put significant pressure on prices.” This solution recorded net sales worth €20.5 million until September 2023, compared to €52.2 million in the same period of the previous year.
In the same results, the company wanted to highlight the growth in royalty income, which rose 8% compared to the same period of the previous year, reaching a total of €38.3 million until September 30th. Mainly, the income came from “our partner Jazz Pharmaceuticals for sales of lurbinectedin in the United States, which were €35.5 million.”
PharmaMar is a biopharmaceutical company based in Madrid, specializing in the discovery, development, and commercialization of new antitumor drugs of marine origin. The company has a presence in Germany, Italy, France, Switzerland, the United Kingdom, Belgium and the United States.
PharmaMar also has the majority stake in other companies: Genomica, a Spanish company in the field of molecular diagnostics, and Sylentis, dedicated to research into the therapeutic applications of gene silencing (RNAi), among others.
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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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