Report
Pharma Mar : Q3 earnings above on higher-than-expected royalties
>Higher royalties offset the anticipated oncology slowdown - Total revenues receded -9% y-o-y in Q3 2023 (vs -1% in Q2 2023). This figure, however, is 24% above our estimate, driven by significantly higher royalties (€ 17m vs. € 10m in Q2 and € 7m estimated for Q3). Biopharma sales decreased 27% y-o-y in Q3 2023 (vs -2% in Q2 2023) reflecting a normalisation after the inflated figures seen in previous quarters that were favoured by one-off ‘early-access’ adjustments i...
Underlying
Pharma Mar SA
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Juan Ros-Padilla
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