Pharma Mar SA

Latest Results (07.08.2024):

Group Revenue

Pharma Mar SA reported group revenue of €80.8 million for the first half of 2024, reflecting a 1% increase compared to the same period in 2023. This growth was driven by a combination of recurring revenue from net sales and royalties, which together amounted to €68.5 million, up from €67.3 million in the first half of 2023.

Oncology Segment

In the oncology segment, Pharma Mar SA's net revenue was €42.0 million for the first half of 2024, a 3% decrease from €43.4 million in the same period of 2023. This decline was primarily due to lower sales of Yondelis in the European market, which amounted to €9.8 million compared to €14.2 million in the first half of 2023.

Royalties Revenue

Royalties revenue for Pharma Mar SA increased by 16% to €26.5 million in the first half of 2024, up from €22.8 million in the same period of 2023. This growth was largely driven by royalties from Zepzelca sales by their US partner, Jazz Pharmaceuticals, which saw a 15% year-on-year increase to €24.2 million.

R&D Expenditure

Pharma Mar SA's R&D expenditure rose by 10% in the first half of 2024, reaching €51.3 million compared to €46.6 million in the same period of 2023. This increase was attributed to heightened activity in ongoing clinical trials, including the LAGOON and SaLuDo trials, both involving Zepzelca.

Net Profit

Pharma Mar SA reported a net profit of €3.5 million for the first half of 2024, down from €6.4 million in the same period of 2023. The decrease in net profit was influenced by a positive financial result of €2.5 million and a positive income tax effect of €5.0 million, following the receipt of part of the R&D investment tax credit for 2022.