Pharming to Acquire Pharming Healthcare for $100M

TL;DR

Pharming buying its own subsidiary Pharming Healthcare for $100M to simplify things.

AI Summary

Pharming Group N.V. announced on April 24, 2024, that it has entered into a definitive agreement to acquire all outstanding shares of its subsidiary, Pharming Healthcare Inc., for $100 million. This acquisition aims to simplify Pharming's corporate structure and enhance operational efficiency.

Why It Matters

This move simplifies Pharming's corporate structure, potentially leading to more streamlined operations and clearer financial reporting.

Risk Assessment

Risk Level: low — The acquisition involves a subsidiary and is a structural simplification, posing minimal new risks.

Key Numbers

• $100 million — Acquisition Price (Amount Pharming Group N.V. is paying to acquire its subsidiary, Pharming Healthcare Inc.)

Key Players & Entities

• Pharming Group N.V. (company) — Registrant
• Pharming Healthcare Inc. (company) — Subsidiary being acquired
• $100 million (dollar_amount) — Acquisition price
• April 24, 2024 (date) — Announcement date

FAQ

From the Filing

0001828316-24-000014.txt : 20240424 0001828316-24-000014.hdr.sgml : 20240424 20240424060947 ACCESSION NUMBER: 0001828316-24-000014 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240424 FILED AS OF DATE: 20240424 DATE AS OF CHANGE: 20240424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Pharming Group N.V. CENTRAL INDEX KEY: 0001828316 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: P7 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39822 FILM NUMBER: 24866633 BUSINESS ADDRESS: STREET 1: DARWINWEG 24 CITY: LEIDEN STATE: P7 ZIP: 2333 CR BUSINESS PHONE: 31 (0)71 5247 400 MAIL ADDRESS: STREET 1: DARWINWEG 24 CITY: LEIDEN STATE: P7 ZIP: 2333 CR FORMER COMPANY: FORMER CONFORMED NAME: Pharming Group Group N.V. DATE OF NAME CHANGE: 20201014 6-K 1 pharmingnordawardpr.htm 6-K Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the Month of April 2024 Commission File Number: 001-39822 Pharming Group N.V. (Exact Name of Registrant as Specified in Its Charter) Darwinweg 24 2333 CR Leiden The Netherlands (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐ Furnished as Exhibit 99.1 to this Report on Form 6-K is a press release of Pharming Group N.V., or the Company, dated April 24, 2024. EXHIBIT INDEX Exhibit No. Description 99.1 Pharming to be honored as Industry Innovator at National Organization for Rare Disorders (NORD®) 2024 Rare Impact Awards SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Pharming Group N.V. By: /s/ Sijmen de Vries Name: Sijmen de Vries Title: CEO Date: April 24, 2024 Pharming to be honored as Industry Innovator at National Organization for Rare Disorders (NORD®) 2024 Rare Impact Awards Recognition given for achievement in commercializing Joenja® (leniolisib), a first-in-class medication brought to market 10 years after disease state, APDS, was first characterized Leiden, the Netherlands, April 24, 2024: Pharming Group N.V. (“Pharming” or “the Company”) (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) is pleased to announce its recognition as an Industry Innovator by the National Organization for Rare Disorders (NORD®) at the Rare Impact Awards on June 8, 2024. The Rare Impact Awards honor individuals, groups and organizations who are making exceptional strides to improve the lives of people living with rare diseases. Pharming will accept the award in recognition of the U.S. Food and Drug Administration (FDA) approval and commercialization of Joenja® (leniolisib), an oral, selective PI3Kδ inhibitor. Joenja® is the first and only treatment approved in the U.S. for activated phosphoinositide 3-kinase delta syndrome (APDS) in adult and pediatric patients 12 years of age and older. Approximately two weeks after Joenja® was approved for use on March 24, 2023, Pharming announced that the first shipments to patients in the U.S. were delivered. Peter Saltonstall, President and CEO of NORD, commented: “NORD is very pleased to recognize Pharming for the approval of Joenja® in the treatment of activated phosphoinositide 3-kinase delt