Aug. 13 at 1:56 PM
$PHAR @PharmingIR
**A very serious question for Pharming IR **
The official Japanese reimbursement/pricing process reportedly estimates just 32 patients at peak and ¥2.2 billion (~
$14–15 million) in annual peak sales for Joenja.
Can Pharming confirm these figures and that 32 patients is indeed the official peak estimate?
If so, this raises serious questions about how Pharming has presented international expansion. A peak contribution of only ~
$15 million from Japan appears extremely limited relative to Pharming's global revenue ambitions.
Have investors been given an overly optimistic picture of Joenja's international potential? Can Pharming provide a transparent breakdown of expected peak patients and revenues by international market?
Investors deserve numbers, not optimistic narratives. If Japan really represents only 32 patients and ~
$15 million at peak, Pharming should explain why it is presented as a meaningful growth opportunity rather than a marginal contributor.
