PHAR - Pharming Group N.V. (PHAR) Q4 2023 Earnings Call Transcript
2024-03-14 13:15:03 ET
Pharming Group N.V. (PHAR)
Q4 2023 Earnings Conference Call
March 14, 2024 08:30 AM ET
Company Participants
Sijmen de Vries - Chief Executive Officer
Stephen Toor - Chief Commercial Officer
Anurag Relan - Chief Medical Officer
Jeroen Wakkerman - Chief Financial Officer
Conference Call Participants
Christian Glennie - Stifel
Alistair Campbell - Royal Bank of Canada
Joe Pantginis - H.C. Wainwright
Simon Scholes - First Berlin
Presentation
Operator
Good day and thank you for standing by. Welcome to the Pharming Group N.V. Full Year 2023 Results Conference Call and Webcast. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. As a reminder, the company will only take questions from dial-in participants. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today Sijmen de Vries, CEO of Pharming Group. Please go ahead sir.
Sijmen de Vries
Thank you very much operator. Welcome ladies and gentlemen. Good morning, good afternoon wherever you are to our conference.
Please next slide. And we're very happy to take you to the full year results. And you can give me the next slides because before I do that, I would like to point out to that forward-looking statements slides that you now see where we will be making forward-looking statements that are based upon our current beliefs and expectations, which may of course differ from what we expect.
So, having said that, I would like to now go to the next slide where you can see my face and then move on immediately to the next slide. Thank you very much. That's the one. Yes, we are indeed looking back to 2023 as a very successful year where by delivering strong growth, we built the foundation for that global rare disease company that we are setting out to build. And that's -- we can build that. We can all finance that by of course the cash flows that come from the marketing of RUCONEST, which delivers considerable positive cash flows that can help us to build that foundation further.
So, we delivered -- we're very pleased that we delivered to more than $227 million of revenue, which is a 10% growth versus last year which exceeded significantly the expected single-digit growth for RUCONEST. And we saw that because we had some very good parameters -- forward-looking parameters that we're really working, the number of patients increased, numbers of prescribers increased. And basically, it means that patients continue to be reliant on RUCONEST despite increased therapy options that are available in the market, which of course, are good for patients. But you can see that RUCONEST continues to be that reliable cornerstone and my colleague Stephen will -- Toor will elaborate a little bit further on that obviously.
Now, the next exciting bit of course that we could therefore start to execute on was the launch in the United States for Joenja, which is a product we in-licensed from Novartis in 2019. And we were very proud to actually almost immediately after FDA approval in April bringing that product to the market and immediately get commercial coverage for that product and bring in more than 18 million of sales during those first nine months in the market....
Pharming Group N.V. (PHAR) Q4 2023 Earnings Call Transcript