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BRIEF-Pharming Group announces completion of acquisition of all north American commercialization rights for Ruconest from Valeant
December 8, 2016 / 6:44 AM / 10 months ago

BRIEF-Pharming Group announces completion of acquisition of all north American commercialization rights for Ruconest from Valeant

Dec 8 (Reuters) - Pharming Group NV :

* Pharming Group announces completion of acquisition of all north American commercialization rights for Ruconest from Valeant

* Cash position after closing of deal and payment of all transaction costs strengthened to 34.3 million euros ($36.94 million)

* Funding through a combination of new equity, straight debt and new convertible bonds of 104 million euros before costs

* $125 million deal value, with an upfront fee paid to Valeant of $60 million, and future self-funding sales milestone payments up to a further $65 million in total

* Immediate and substantial positive impact on Pharming’s operational results and near-term profitability

* Annualized run rate of sales, increased from $35 million in Q3 2016 to more than $40 million, based on average of most recent two months of sales (October and November) Source text for Eikon: Further company coverage: ($1 = 0.9286 euros) (Gdynia Newsroom)

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