PharmaMar is a Spanish biopharmaceutical group with a core focus on the development of marine-based drugs for cancer. Yondelis is approved in the EU and US, and partnered with Janssen (J&J) in the US and Taiho in Japan.
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PharmaMar recently reported financial results for 2017. Sales for the year were down 0.9% to €162.6m compared to 2016. Yondelis sales fell 4.1% to €84.6m, mainly due to pricing erosion in Europe. However, the consumer chemicals division continues to grow and was up 3.4% for the year to €72.0m. Importantly, the company’s Phase III trial testing Zepsyre® in small cell lung cancer (SCLC) patients is around 75% enrolled and expected to be fully enrolled in the middle of this year with data in H119.
Y/E Dec |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2016A | 164.0 | (11.5) | (24.7) | (10.8) | N/A | N/A |
| 2017A | 162.6 | (8.2) | (22.7) | (12.0) | N/A | 554.5 |
| 2018E | 168.8 | 17.7 | 5.8 | 2.6 | 52.1 | N/A |
| 2019E | 177.3 | 19.5 | 7.2 | 2.7 | 50.2 | 25.6 |
Content on PharmaMar
PharmaMar – Termination of coverage
Industrials
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research
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4 January 2019
PharmaMar – Preparing for ovarian Phase III data
Industrials
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research Update
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14 August 2018
PharmaMar – Aplidin and Zepsyre milestones coming up
Industrials
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research Update
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14 August 2018
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Industrials
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Share price graph
Balance sheet |
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| Forecast net debt (€m) | 79.2 |
| Forecast gearing ratio (%) | 236 |
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Key management |
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| Jose Maria Fernandez Sousa-Faro | Chairman & CEO |
| Luis Mora | MD |
| Maria Luisa de Francia Caballero | CFO |
| Maria Marin de la Plaza | IR |