Edison Healthcare Insight /// June 2016 .
Investment Summary
* PharmaMar restructured in late 2015 to concentrate on its potentially high-growth marine oncology activities.
* In the restructure, the oncology division, PharmaMar, absorbed the former parent company, Zeltia. PharmaMar has built a pipeline of first-in-class cancer drugs for development with strategic partners.
* Royalty income flowing from the recent approvals for Yondelis for soft tissue sarcoma in Japan and the US in September and October, respectively, should drive strong profit growth from 2017.
* The 420-patient Phase III trial of PM1183 in platinum-resistant ovarian cancer was cleared to continue in February after an interim safety analysis on the first 80 patients.
* The Phase III trial of Aplidin in multiple myeloma reported positive results in March, while a pivotal study of Aplidin in angioimmunoblastic T-cell lymphoma was initiated in June.
* Its Sylentis division reported positive results from a Phase II trial of SYL1001 in dry eye syndrome.
INDUSTRY OUTLOOK
* PharmaMar's oncology portfolio has been validated through multiple global partnerships, eg J&J in the US and Taiho in Japan (over Yondelis) and Chugai in certain EU countries (for Aplidin).
