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PharmaMar S.A.. (10/27/16). "Press Release: PharmaMar Group Reports 9M 2016 Financial Results". Madrid.

Organisation Organisation PharmaMar S.A. (MSE: PHM)
  Group PharmaMar (Group)
Products Product Yondelis®
  Product 2 lurbinectedin (PM1183)
  Index term 2 JnJ–Zeltia: trabectedin, 201411 license exisent rights to develop + sell Yondelis ww except Europe + Japan by Janssen Products LP
Persons Person Fernández de Alarcón, Paula (PharmaMar 201511 Public Relations Manager)
  Person 2 Moreno, José Luis (Zeltia 201207 Head of Investor Relations)
     


> PharmaMar Group reports €131.1 million in net sales (+4.7%)

> Commercial sales of Yondelis®, net of raw material sales, increased by 9.7%.

> Consumer Chemicals net sales increased by 6.7% to €59.2 million.


Grupo Pharma Mar (PHM.MC) today announced its financial and corporate results for the first nine months of 2016. The PharmaMar Group reported €131.1 million in total net sales in the first nine months of 2016, a 4.7% increase year-on-year. Revenues increased in all business areas of the company. Net commercial sales of Yondelis® (excluding raw material sales) increased by 9.7%. Including raw materials, total net sales of Yondelis® amounted to €67 million in the first nine months (+3%). Royalty revenues amounted to €4.2 million in the period. This increase in revenues, in both sales (+€5.9 million) and royalties (+€3.2 million), broadly offset both the effect of the termination of the 2001 agreement with Janssen, under which PharmaMar collected a final payment of €8.8 million in the first nine months of 2015, and the milestone payment collected for the approval of Yondelis in Japan, which amounted to €10.8 million in the first nine months of 2015.

Net sales in the Consumer Chemicals division increased by 6.8% in the first nine months of 2016, to €59.2 million.

Research and development expenditure increased by 33% in the period, to €57.4 million. Oncology R&D accounted for €53 million. That increase was due mainly to the advanced status of ongoing clinical trials, including the Phase III trial with PM1183 in platinum-resistant ovarian cancer, the Phase III trial in small-cell lung cancer with that same compound, and the Phase III trial with Aplidin in multiple myeloma, for which a registration dossier has now been presented, as well as other pre-clinical and clinical trials in a range of compounds. The increase in R&D spending is the main reason for group EBITDA being negative (-€5.6 million) in the first nine months of 2016, contrasting with €16.6 million in the same period last year, when the company also collected €22.2 million under licensing and other agreements that did not recur in 2016.

As a result, the Group reported a net attributable loss of -€16.6 million in the first nine months of 2016, compared with €6.6 million net profit in the same period of 2015.


About PharmaMar

PharmaMar, a Madrid-based biopharmaceutical company, is a world leader in discovering, developing and marketing anti-tumour drugs obtained from the sea. PharmaMar has a rich pipeline of pre-clinical candidates and a major R&D programme. The company develops and markets YONDELIS® in Europe and has three other compounds in clinical development for treating solid and haematological tumours: plitidepsin, PM1183 and PM184. PharmaMar is a global biopharmaceutical company with a presence in Germany, Italy, France, Switzerland, the United Kingdom, Belgium and the USA. PharmaMar also has a majority stake in other companies: GENOMICA, Spain's leading molecular diagnostics company; Sylentis, focused on developing therapeutic applications of gene silencing (RNAi); and two chemical companies: Zelnova Zeltia and Xylazel. For more information, visit our website: www.pharmamar.com


Important note

This document does not constitute or form part of an offering or invitation to sell or a solicitation to purchase, offer or subscribe for shares of the company. Moreover, no reliance should be placed upon this document or its distribution for any investment decision or contract and it does not constitute a recommendation of any type with regard to the shares of the Company.


Further information from:

Communication:
Paula Fernández – Media Relations Manager
pfalarcon@pharmamar.com
Mobile: +34 638796215
Phone: +34 918466000

Investor relations:
José Luis Moreno Martínez-Losa – Head of Investor Relations and Capital Markets
investorrelations@pharmamar.com
Phone: +34 914444500

For more information, visit our website: www.pharmamar.com

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Record changed: 2016-11-01

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