Grupo PharmaMar posted net profit of 8.7 million euros in the first nine months of 2026, which implies a decrease of 43.1% compared with the 15.3 million in the same period of the previous fiscal year, when 37.7 million linked to non-recurring income and subsidies were included, according to the company reported this Thursday.
Despite this drop in profit, total turnover rose 12%, to 146.9 million, while recurring income —which includes net sales and the 'royalties' paid by its partners— increased 30%, to 137.4 million, driven by the commercialization of Zepzelca (lurbinectedin) in Europe and by the 'royalties' derived from its sales in the United States.
Non-recurring income fell to 9.5 million as of September 30, 2026, compared with 25.3 million a year earlier. The company explains this setback because in 2025 the proportional part of a 21 million 'upfront' payment received from Merck for the license of lurbinectedin in Japan was recorded.
Net sales increased 20.4%, to 75.1 million, thanks to the boost from Zepzelca in Europe after its launch in Germany and Austria in July, which are added to the existing sales in Switzerland, where it has been marketed since the previous year (in Switzerland commercial sales have been recorded since 2023), according to the pharmaceutical company.
Altogether, billing in these European markets reached 14.9 million, which represents an advance of 54.7% compared with the same interval of 2025. For its part, raw material sales grew 29.6%, to 24.6 million, supported by the "good performance" of lurbinectedin raw material sales, which reached 11.2 million after increasing 60.8% year-on-year.
As of September, oncology-area 'royalties' income increased 44.4%, to 62.4 million. Of this amount, 51.3 million comes from Zepzelca sales in the USA, with a rise of 56% compared with the same period of the previous year. Added to this are the 'royalties' linked to trabectedin sales by its partners in the United States and Japan, which totaled 11.1 million.
The Ebitda of PharmaMar stood at 13.3 million, 42.4% less, a decline that the group links both to the extraordinary income derived from the lurbinectedin licensing agreement for Japan and to the recording of 16.7 million corresponding to part of the grant awarded to Sylentis within the framework of the European Ipcei program, both accounted for in 2025.
Cash, equivalents and other financial investments increased by 9.1 million, to 176.9 million, while total financial debt grew by 20.6 million after the signing in July of a new 25 million loan. With this, the net cash position at the end of the period reached 109.8 million euros.
Investment in R&D in the first nine months of the year amounted to 72.1 million, compared with 69.6 million in the same period of the previous fiscal year. Most of it corresponds to the oncology business, which allocated 68.6 million, compared with 66 million in September 2025.
Elena Calleja, new financial director of PharmaMar
On the other hand, Elena Calleja Crespo has been appointed the new financial director of Grupo Pharma Mar, a position she will assume as of January 1, 2027, according to the company informed the Comisión Nacional del Mercado de Valores (CNMV).
She will replace María Luisa de Francia Caballero, who will retire effective December 31, 2026 and whom the company expresses its "recognition and gratitude" for her "exemplary" professional career, her "dedication and commitment" during her 39 years linked to the group and her "valuable contribution to the development, growth and strengthening" of the same, while wishing her "the greatest success" in the performance of her new responsibilities.
Elena Calleja Crespo has a degree in Economic Sciences from the Universidad Complutense de Madrid, with a specialization in Monetary Economy and Public Sector, and has a master's degree in Corporate Tax Advisory from Icade.
Throughout her career at Pharma Mar she has taken on different functions in the economic-financial area and, during the last 18 years, has held the position of financial director of the Oncology Business Unit, according to the company.