Pharma Mar earns 7.4 million, and Zepzelca’s income is growing rapidly
Pharma Mar continues to overcome the challenges that exist between drug patent expiration and the commercial awakening of medical innovation. The pharmaceutical company is essentially maintaining its profits (they rose from 7.9 million in the first nine months of 2023 to 7.4 in the same period this year), but while commercial erosion of Yondelis continues to occur, revenues from Zepzelka’s first sales .
As of September 30, 2024, the turnover of the firm, headed by José María Fernández Sousa Faro, amounted to 126.5 million, representing an increase of 8% compared to the income recorded in the same period of the previous year. Recurring revenue resulting from the addition of net sales plus royalties received (mainly from sales of Jazz to Zepzelca in the US) increased to €99.2 million from €98.3 million recorded as of September 30, 2023.
The good news continues to be Zepzelca’s turnover in America, which grew by 8% to €38.4 million, representing almost a third of the total revenue recorded by the company. To the royalties received from Jazz Pharmaceuticals until September 30, it is necessary to add those received from sales of Yondelis from Pharmamar partners in the USA and Japan in the amount of 3.5 million euros.
In the “Expenses” section, the R&D item must be highlighted. According to the pharmaceutical company, 76 million euros were invested in the first nine months of 2024, representing an increase of 8% compared to the same period the previous year.
At the end of the quarter, the group recorded cash and equivalents of €148.2 million and increased its debt position by €11 million by entering into a long-term bank loan of €15 million. This money is being used to build a new plant for the group, although it is unknown when it will be fully completed.
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