PharmaMar Reduced Its Profit by 82% in the Third Quarter of the Year

PharmaMar confirms the bad omens. The Spanish pharmaceutical company closed the third quarter of 2023 with a net profit of €8 million, compared to the €43.4 million it registered in the same period of 2022. This figure translates into a decrease of 82%, according to records. in the results report sent by the company to the National Securities Market Commission (Cnmv).

At the end of the third quarter, the group recorded total revenues of €117.6 million, compared to the €145.5 million reported in the same period of the previous year, 19% less. On the other hand, recurring revenue also followed this trend, registering a total of €98.3 million during the first nine months of 2023, compared to €123.3 million in the previous year.

PharmaMar has 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.” In fact, the solution has recorded net sales worth €20.5 million until September 2023, compared to €52.2 million in the same period of the previous year.

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PharmaMar recorded total revenues of €117.6 million, compared to €145.5 million in the previous year

However, the company has reported that Zepzelca’s revenues in Europe have experienced a significant increase, growing to reach €26.1 million in the first nine months of the year, compared to €13.8 million recorded in 2022. PharmaMar has assured that “this income comes mainly from France, as a consequence of the positive adjustment made by the French authorities in relation to the discounts of the previous year,” according to the statement.

PharmaMar wanted to highlight the growth in royalty income, which has increased by 8% compared to the same period of the previous year, reaching a total of €38.3 million until September 30th. Mainly, the income has come from “our partner Jazz Pharmaceuticals for sales of lurbinectedin in the United States, which were €35.5 million.”

Finally, of the total investment in Research and Development (R&D), the figure has grown by 19%, up to €70 million. Specifically, the amount allocated to the oncology segment has increased by 24%, reaching €59.8 million, and has been “related to the confirmatory phase III trial of lurbinectedin in small cell lung cancer,” as detailed by the company.

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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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