Mission Statement, Vision, & Core Values (2024) of Pharming Group N.V. (PHAR)

An Overview of Pharming Group N.V. (PHAR)

General Summary of Pharming Group N.V.

Pharming Group N.V. is a biopharmaceutical company based in the Netherlands, established in 1988. The company specializes in developing and commercializing innovative products for the treatment of rare diseases and unmet medical needs. Pharming's lead product, Ruconest, is a recombinant human C1 esterase inhibitor used in the treatment of hereditary angioedema (HAE). As of 2024, Pharming has expanded its portfolio to include additional therapeutic candidates that address diverse health issues, particularly in immunology and rare genetic disorders.

In 2024, Pharming reported annual sales reaching approximately €150 million, driven primarily by strong performances from Ruconest and the newly launched products. The company's strategic focus on research and development has fortified its position within the biopharmaceutical sector, allowing it to cater effectively to patients with rare diseases.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for the fiscal year ending December 31, 2023, Pharming demonstrated a remarkable financial performance. The company generated record-breaking revenues of €152 million, representing a 32% increase compared to the previous year. This growth is largely attributed to the surge in sales of Ruconest, which accounted for approximately 80% of total revenue.

The financial highlights from the report include:

Additionally, Pharming's market expansion initiatives contributed to the growth, with an increased presence in North America and Europe. The demand for Ruconest has significantly risen, resulting in a robust market share and strong brand recognition in the therapeutic space.

Introduction to Pharming Group N.V. as a Leader in the Industry

Pharming Group N.V. stands out as one of the leading companies in the biopharmaceutical industry, particularly known for its pioneering work in rare disease treatments. With a commitment to innovation, Pharming invests heavily in research and development, which enables it to introduce cutting-edge therapies to the market. As a result, the company has attracted significant attention from investors and healthcare professionals alike.

The driving force behind Pharming's success includes:

• Strong product pipeline with multiple candidates in various stages of development.
• Established partnerships with key stakeholders in the healthcare industry.
• Focus on unmet medical needs, driving demand for unique therapeutic solutions.

As Pharming continues to innovate and expand its reach, it solidifies its role as a transformative player in the biopharmaceutical sector, addressing critical health challenges faced by patients worldwide.

Mission Statement of Pharming Group N.V. (PHAR)

Company's Mission Statement

Pharming Group N.V. (PHAR) has articulated its mission statement to emphasize its commitment to delivering innovative treatments for patients with rare diseases. This mission serves as a foundational element in directing the organization's long-term strategic goals and operational practices.

Innovative Solutions

Pharming aims to develop and provide innovative therapeutic solutions that address unmet medical needs. The company focuses on research and development (R&D) to advance its pipeline of biologics, specifically targeting rare genetic disorders. As of 2024, Pharming has invested approximately €45 million in R&D activities, highlighting its commitment to innovation.

Patient-Centric Approach

The company prioritizes the needs of patients in its mission, ensuring that every decision revolves around enhancing patient outcomes. This approach is reflected in Pharming's partnerships with patient advocacy groups and healthcare professionals. Recent statistics show that 85% of patients reported improved quality of life after using Pharming’s flagship product, Ruconest.

Global Reach

Pharming's mission statement includes a strong emphasis on expanding its global footprint. The company operates in over 20 countries and has established a distribution network that enables access to its products worldwide. In 2023, Pharming generated €150 million in total revenue, with exports constituting 60% of that revenue, demonstrating its successful global strategy.

Vision Statement of Pharming Group N.V. (PHAR)

Vision Statement Overview

Pharming Group N.V.'s vision statement as of 2024 emphasizes its commitment to pioneering innovative therapies for rare and unmet medical needs. The focus is on leveraging advanced biotechnology to transform patient care and enhance the quality of life for individuals suffering from serious health conditions.

Innovative Therapies

The cornerstone of Pharming's vision is the development of novel treatments utilizing recombinant DNA technology. As of 2024, the company’s lead product, Ruconest, delivered over €100 million in revenue in 2023, demonstrating the market's demand for innovative solutions in the treatment of hereditary angioedema.

Commitment to Patients

Pharming Group places a strong emphasis on understanding and addressing the needs of patients with rare diseases. In 2024, the company aims to expand its patient outreach programs, investing approximately €5 million in initiatives that foster patient education and support.

• Expansion of patient education workshops.
• Partnerships with patient advocacy groups.
• Increased accessibility to treatment options.

Global Reach and Collaboration

As Pharming continues to grow, its vision incorporates a global perspective, aspiring to reach patients worldwide. In 2024, Pharming expects to expand into 20 new international markets, with a projected increase in global partnerships, estimated to be around €10 million in collaborative research funding.

Sustainable Practices

Pharming is committed to sustainable practices in its operations. By 2024, the company aims to reduce its carbon footprint by 30% through initiatives focused on energy-efficient technologies and waste reduction strategies.

• Investment of €3 million in energy-efficient equipment.
• Implementation of a comprehensive recycling program.
• Partnership with sustainability organizations.

Future Innovation Focus

Looking ahead, Pharming's vision includes a strong emphasis on research and development. The company plans to allocate 40% of its total revenue to R&D in 2024, focusing particularly on the advancement of gene therapy and biologics.

Core Values of Pharming Group N.V. (PHAR)

Integrity

The core value of integrity is fundamental to Pharming Group N.V.'s operations and decision-making processes. It underscores the importance of honesty and transparency in all dealings.

Pharming has demonstrated its commitment to integrity through various initiatives:

• Regular ethical training sessions for employees, with participation rates exceeding 95% in 2023.
• Implementation of a whistleblower policy that offers protection to employees reporting unethical practices.
• Transparency in financial reporting, evidenced by a clean audit report for the fiscal year 2022, reflecting adherence to regulatory standards.

Innovation

Innovation is a critical value for Pharming, driving growth and the development of cutting-edge therapies.

In 2023, Pharming allocated approximately €50 million to research and development efforts, leading to the advancement of several clinical trials.

• Introduction of innovative therapies such as the new formulation of Ruconest, which improved patient outcomes in clinical trials.
• Investment in biotechnological advancements, demonstrated by the partnership with leading research institutions.

Patient-Centricity

Pharming's focus on patient-centricity ensures that the needs and experiences of patients guide its business strategies.

Examples of initiatives reflecting this core value include:

• Launch of patient support programs, with over 10,000 patients enrolled by the end of 2023.
• Conducting regular patient satisfaction surveys, with a reported satisfaction rate of 88% for the company's therapies.

Collaboration

Collaboration fosters synergy among diverse stakeholders, enhancing the efficacy of treatments offered by Pharming.

Pharming exemplifies collaboration through:

• Strategic partnerships with pharmaceutical companies, including a €30 million deal with a multinational firm in 2023.
• Engagements in collaborative research, resulting in 15 joint publications over the past year.

Commitment to Quality

Quality assurance is a core value that Pharming prioritizes, ensuring that all products meet the highest standards.

Pharming has established rigorous quality control measures, resulting in:

• 99% compliance in FDA inspections during the past year.
• Continuous improvement programs that have reduced production errors by 25% since 2021.

Table of Core Values and Initiatives