March 5, 2020 / 6:17 AM / in 24 days

BRIEF-Pharming Group FY Net Profits Up At 36.2 Million Euros

March 5 (Reuters) - PHARMING GROUP NV:

* FULL YEAR NET PROFITS WERE EUR 36.2 MILLION ($40.5 MILLION), AN INCREASE OF 45% ON 2018

* FULL YEAR OPERATING PROFIT OF EUR 60.9 MILLION (US$68.2 MILLION), AN INCREASE OF 60% ON 2018

* DELIVERED REVENUE FOR FULL YEAR OF EUR 169.0 MILLION (US$189.3 MILLION)

* CASH POSITION AT 28 FEBRUARY 2020 AFTER CONVERTIBLE BOND ISSUE, INITIAL EUR 5.5 MILLION PAYMENT DUE TO SOBI AND MILESTONE PAYMENT TO BAUSCH HEALTH WAS EUR 149.2 MILLION ($166.0 MILLION)

* MAINTENANCE OF POSITIVE NET EARNINGS FOR 2020

* SEES CONTINUING GROWTH TRAJECTORY OF PHARMING IN 2020 WITH INCREASED SALES Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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