By Kyle Morris

Pharming Group NV said Thursday that it has renewed its strategic manufacturing partnership with Sanofi SA.

The Dutch pharmaceutical company said that, as a result of the extended five-year contract, it has decided to no longer continue with its plans for its own downstream production capacity at Pivot Park in Oss in the Netherlands, saving it around $40 million.

"As a result of this renewed manufacturing partnership, we can now fully focus on our core competencies; the development and commercialization of our products and investing our human and financial capital in pursuing additional near-term growth opportunities through the in-licensing or acquisition of late-stage products," Chief Executive Sijmen de Vries said.

Write to Kyle Morris at kyle.morris@dowjones.com

-0-

(END) Dow Jones Newswires

December 23, 2021 04:47 ET (09:47 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Pharming Group NV (EU:PHARM)
Historical Stock Chart
Von Mär 2024 bis Apr 2024 Click Here for more Pharming Group NV Charts.
Pharming Group NV (EU:PHARM)
Historical Stock Chart
Von Apr 2023 bis Apr 2024 Click Here for more Pharming Group NV Charts.