Pharming Announced Sale Of Priority Review Voucher To Novartis For $21.1M
Portfolio Pulse from Charles Gross
Pharming Group has entered into an agreement to sell its Rare Pediatric Disease Priority Review Voucher (PRV) to Novartis Pharma for a one-time payment of $21.1 million.
June 01, 2023 | 9:25 am
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POSITIVE IMPACT
Novartis acquires a Rare Pediatric Disease Priority Review Voucher from Pharming Group for $21.1 million.
The acquisition of the PRV allows Novartis to potentially expedite the approval process for one of its drugs targeting a rare pediatric disease. This could have a positive impact on Novartis' stock price in the short term, as it may lead to faster revenue generation from the approved drug.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Pharming Group sells its PRV to Novartis for $21.1 million, providing a cash influx for the company.
The sale of the PRV to Novartis will provide Pharming with a significant cash influx, which can be used to fund its operations and growth. This is likely to have a positive impact on Pharming's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100