Pharming Appoints Biopharmaceutical Veteran Fabrice Chouraqui as New CEO

Pharming Group N.V. (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) has announced the nomination of Fabrice Chouraqui as its new Executive Director and Chief Executive Officer, succeeding Sijmen de Vries. The appointment will be subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM). Upon his appointment, De Vries will resign from the Board of Directors and remain as a strategic advisor until December 31, 2025, ensuring a smooth transition.

Dr. Richard Peters, Chairman of the Board of Directors, commented on the nomination: "After an extensive search, the Board and I are confident that Fabrice Chouraqui is the right candidate to lead Pharming and continue to implement our growth strategy. Fabrice brings a wealth of global expertise and experience across the entire biopharmaceutical value chain, making him an ideal fit for Pharming's rare disease focus."

Sijmen de Vries, the outgoing CEO, expressed his support for the nomination: "I am very pleased with the nomination of Fabrice Chouraqui as my successor. Fabrice brings strong leadership experience with global pharmaceutical companies and highly innovative biotechnology companies to Pharming. I look forward to supporting Fabrice through the remainder of the year to ensure a smooth hand-over."

Fabrice Chouraqui, a global pharmaceutical executive with a record of value creation at Flagship Pioneering, Novartis, and Bristol-Myers Squibb, is excited about the opportunity to lead Pharming: "I am honored to have the opportunity to take over the leadership of Pharming, building on the strong foundation and joining at a time when I can help propel the company through its next stage of growth in the rare disease space. I am impressed by Pharming's growing portfolio of products and commercial opportunities, which will pave the way for us to become the rare disease company of choice."

Chouraqui's extensive experience in both global pharmaceutical and biotechnology sectors aligns well with Pharming's strategic direction in the rare disease space. His background in rare disease commercialization and business development, as demonstrated by his track record at Novartis with Ilaris and his experience scaling biotechnology companies at Flagship Pioneering, suggests a focus on accelerating Pharming's rare disease portfolio expansion.

Chouraqui's expertise in launching specialty medicines and improving market access could help optimize Pharming's commercial execution, particularly important for rare disease products where reimbursement is complex. His experience with in-licensing deals like ofatumumab and erenumab at Novartis could also accelerate Pharming's business development activities.

As CEO, Chouraqui might prioritize the following initiatives to drive growth and innovation:

1. Accelerating R&D capabilities and pipeline development: Chouraqui's experience leading Cellarity's AI-driven drug discovery platform could help accelerate Pharming's R&D capabilities and pipeline development in the rare disease space.
2. Optimizing commercial execution: By leveraging his expertise in launching specialty medicines and improving market access, Chouraqui could help optimize Pharming's commercial execution, ensuring that the company's rare disease products reach the right patients and achieve strong market positions.
3. Pursuing strategic opportunities: Chouraqui's deal-making capabilities, as showcased by the $250M capital raise at Cellarity and partnership with Novo Nordisk, could help Pharming pursue strategic opportunities in the rare disease space, such as collaborations, licensing agreements, or acquisitions.
4. Developing next-generation talents and diverse teams: Throughout his career, Chouraqui has demonstrated a strong record of developing next-generation talents and highly diverse teams. By fostering a culture of innovation and inclusion, he could help Pharming attract and retain top talent, driving long-term growth and success in the rare disease space.

In conclusion, Fabrice Chouraqui's extensive experience in both global pharmaceutical and biotechnology sectors, combined with his specific initiatives to drive growth and innovation, positions him well to lead Pharming in the rare disease space and help the company become the rare disease company of choice. His appointment signals a strategic pivot for Pharming, with a focus on accelerating its rare disease portfolio expansion and optimizing its commercial execution.