Pharmamar it closed the third quarter with a profit of 11.7 million euros, while three months before it achieved a profit of 18 million euros and the consensus expected a profit of 16 million for the period from July to September.
The biopharmaceutical did exceed the consensus income estimates with respect to the accumulated in the first nine months of the year. During this period, it had a turnover of 143.9 million euros, while experts set the income at just over 136 million.
Pharmamar earned 54.7 million euros from January to September, a figure that is not comparable to that of the previous year, since a year ago it calculated part of the license agreement with Jazz Pharmaceuticals for the commercialization of Zepzelca, which meant that the ‘biotech’ achieved the best results in its history with a profit of 131 million euros.
Pharmamar stalls sales
The stagnation of sales of this drug, those of Yondelis and those of the Covid-19 diagnostic test during this year reflect the brake on profit. Zepzelca’s sales in Europe for compassionate use are around 7.5 million euros quarter over quarter.
Those of Yondelis remain anchored at 23-25 million every three months and those of coronavirus diagnostic tests continue to fall due to the increase in competition, the fall in prices of these products and their lower use due to the fall in incidence.
Despite the reduction in benefits, Pharmamar keeps debt over 50 million euros at bay and the treasury with more than 220 million, which causes a free cash of 171.3 million euros while increasing its investments for the improvement of plants and the increase of the workforce.
Year-on-year improvement with nuances
Yes indeed, in a year-on-year comparison, Zepzelca sales register a clear improvement. Thus, in Europe, under the compassionate use authorization program, they closed September at 23.3 million, 77.7 percent more, although it is necessary to clarify that the drug began to be marketed in July of last year so There are only three months of comparison compared to the nine this year.
Income from royalties reached 27.2 million euros during the first nine months of the year, compared to 7.4 million a year ago for Jazz Pharmaceuticals royalties which were 25.2 million. In addition, these data are an estimate waiting for your partner to present its results at the beginning of November.
Yondelis total sales remained at levels similar to those of the previous year, 56.5 million euros as of September 30, 2021, compared to 57.1 million in the same period of 2020. All in all, revenue from sales in oncology amounts to 88.7 million so far in 2021, the 21 percent more.
New trial with Zepzelca with a view to Europe
Pharmamar indicated in the communication of results to the CNMV that “plans” to start a confirmatory trial later this year in second-line recurrent small cell lung cancer with Zepzelca.
The drug will be compared will be applied in monotherapy or in monotherapy or in combination with irinotecan, against the choice of
irinotecan or topotecan researchers. If positive, this trial will be used with the US FDA to confirm its benefit in patients who progress after first-line treatment with a platinum-based regimen.
The study seeks to strengthen the future full sales authorization in the United States, but it will also serve to open the same path in the European Union since the trial will also be registered in the Old Continent through the community agency, the EMA.