Pharming's Bold Move: Acquisition of Abliva AB

Pharming Group AB, a biotechnology company focused on developing therapies for rare diseases, has announced a public cash offer to acquire all outstanding shares of Abliva AB, a Swedish company specializing in mitochondrial medicine. The offer values Abliva at approximately SEK 2.7 billion ($310 million), representing a premium of around 120% over Abliva's closing share price on the day prior to the announcement. The acquisition is expected to strengthen Pharming's pipeline and expand its presence in the rare disease market.

Pharming's acquisition of Abliva AB complements its existing portfolio and pipeline by adding a promising late-stage asset, KL1333, for the treatment of primary mitochondrial diseases. This acquisition aligns with Pharming's focus on developing therapies for rare diseases with high unmet needs. The synergies expected to be realized include:

1. Complementary Pipeline: KL1333 addresses a different indication (primary mitochondrial diseases) than Pharming's lead product, RUCONEST®, which is approved for the treatment of hereditary angioedema. This diversification reduces the risk of relying on a single product and expands Pharming's addressable market.
2. Late-stage Asset: KL1333 is in a pivotal Phase 3 clinical trial, which reduces the time and resources required for further development compared to earlier-stage assets. This accelerates Pharming's potential to bring a new therapy to market and generate revenue.
3. Potential for Combination Therapies: The combination of RUCONEST® and KL1333 could offer a comprehensive treatment approach for patients with multiple rare diseases, potentially increasing market penetration and revenue.
4. Talent Acquisition: Abliva's experienced team of scientists and researchers brings valuable expertise to Pharming, further strengthening its R&D capabilities.

By acquiring Abliva AB, Pharming gains a late-stage asset with significant potential, complements its existing portfolio, and strengthens its position in the rare disease market. The acquisition is expected to close in the second quarter of 2024, subject to customary closing conditions and regulatory approvals.



Pharming's acquisition of Abliva AB is a strategic move that expands its product portfolio and enters new therapeutic areas, particularly mitochondrial diseases and rare genetic disorders. Abliva's lead product, KL1333, targets primary mitochondrial diseases, which are severe, rare, and often life-threatening. This acquisition complements Pharming's existing portfolio, which includes Rebinyn, a treatment for hemophilia, and Ruconest, a treatment for hereditary angioedema. By acquiring Abliva, Pharming gains access to a pipeline of innovative therapies for rare diseases, further diversifying its product portfolio and strengthening its position in the orphan drug market.



In conclusion, Pharming's acquisition of Abliva AB is a strategic move that complements its existing portfolio and pipeline, expands its presence in the rare disease market, and strengthens its position in the orphan drug market. The acquisition of Abliva AB's lead product, KL1333, significantly enhances Pharming's market position in the rare disease space. With this acquisition, Pharming gains access to a promising drug candidate with the potential to address a significant unmet medical need. The addition of KL1333 to Pharming's portfolio expands its reach into the rare disease market, allowing it to tap into the growing demand for innovative therapies for these often debilitating conditions. Furthermore, the acquisition aligns with Pharming's strategy of focusing on rare diseases, enabling it to leverage its expertise and resources to develop and commercialize KL1333 more effectively.