Pharming reacquires Ruconest-licensed territories from Sobi

Netherlands-based Pharming Group (Euronext: PHARM) today announced it has entered into a definitive agreement with Swedish Orphan Biovitrum (STO: SOBI; “Sobi”) to reacquire the commercial rights to Pharming’s Ruconest (C1 esterase inhibitor [recombinant]) in all remaining territories, which includes all remaining European Union markets.

Under the agreement, the license is being terminated with effect from January 1, 2020 in all 36 countries with a smooth handover planned in the countries where Sobi has sales activities. Pharming will pay Sobi 7.5 million euros ($8.4 million) in two tranches, the larger part upfront with a final payment once all transition activities are complete or underway.  There are no further future payments under this agreement.

Ruconest sales expected to increase