PharmaMar has reported that recurring revenues, made up of net sales plus royalties received from sales made by partners, have increased by 53% with respect to the same period of the previous year, going from 54.0 million euros at June 30, 2020 to 82.4 million euros at June 30, 2021.
This increase in recurring revenues is mainly due to the good performance of the oncology business. It is worth highlighting the growth in revenue of Zepzelca® (lurbinectedin) in Europe under the temporary use authorization program, which reached 15.8 million euros during the first half of the year, and represents an increase of 169% compared to the same period of the previous year. Yondelis® (trabectedin) sales in Europe have remained at levels similar to those of the previous year, 36.7 million euros at the end of June 2021, compared to 36.9 million euros at June 2020.
The royalty income they reached 17.4 million euros as of June 30, 2021, compared to 1.4 million euros in the same period of the previous year. This important growth is mainly due to the income for this concept received from Jazz Pharmaceuticals, from the sales of lurbinectedin in the US, which were 16.0 million euros.
The license agreement revenue reached 16.3 million euros as of June 30, 2021, compared to the 115.0 million euros registered as of June 2020. This difference is due to the initial payment of the license agreement with Jazz Pharmaceuticals and the milestone for approval of lurbinectedin in the US, both events occurred in the first half of 2020.
With all that, PharmaMar’s total revenue was 98.7 million euros, compared to 169 million euros in the first half of 2020.
The Group investment in R&D as of June 30, 2021, it has increased by 19% to € 29 million, compared to € 24 million in the first half of the previous year.
As a result, PharmaMar obtained a net profit of 43 million of euros in these first six months of the year.
PharmaMar closes the first half of the year with a treasury (cash and equivalents plus financial investments) of 217.7 million euros and a total debt of 53 million euros. This represents a total net cash of 164 million euros.