Pharming cuts G&A costs with 20% staff reduction
Pharming Group N.V. has begun an organizational restructuring designed to accelerate growth while cutting overhead.
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Form Type
6-K
Rhea-AI Filing Summary
Pharming Group N.V. has begun an organizational restructuring designed to accelerate growth while cutting overhead. The company is redesigning its structure and reducing non-commercial and non-medical headcount by 20%, mainly at its Netherlands headquarters, as part of a previously announced general and administrative (G&A) expense reduction plan.
Pharming states it remains on track to lower total G&A expenses by 15%, or about US$10 million annually. The company expects one-time restructuring charges of roughly $7 million to be recorded in the fourth quarter of 2025 in connection with the headcount reduction.
Insights
Pharming pairs a 20% HQ job cut with targeted $10m annual G&A savings.
Pharming Group is executing an organizational restructuring focused on non-commercial and non-medical roles, primarily at its Netherlands headquarters. The plan aims to reduce general and administrative expenses by $10 million per year, representing a 15% G&A cut.
The company anticipates one-time restructuring costs of about $7 million, to be booked in Q4 2025. This means near-term expenses increase before the ongoing savings appear in future periods, so financial effects depend on how quickly the new structure stabilizes.
The announcement also notes consultation with the Dutch Works Council, which is typical for workforce changes in the Netherlands. Subsequent company filings and updates after Q4 2025 will show how these measures flow through operating expenses and whether the targeted G&A savings are achieved.
FAQ
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What restructuring did Pharming Group (PHAR) announce in its October 2025 6-K?
Pharming announced an organizational restructuring focused on non-commercial and non-medical roles, mainly at its Netherlands headquarters. The plan includes a 20% net headcount reduction and a redesign of its organizational structure to support a broader general and administrative expense reduction program.
How much does Pharming Group (PHAR) aim to reduce G&A expenses through this plan?
Pharming aims to reduce total general and administrative (G&A) expenses by 15%, or about US$10 million annually. This targeted saving comes from the organizational restructuring, including a 20% net reduction in non-commercial and non-medical headcount and related efficiency measures across the company.
What one-time restructuring costs will Pharming Group (PHAR) record?
Pharming expects approximately $7 million in one-time restructuring costs tied to the headcount reduction. The company states these charges will be recorded in the fourth quarter of 2025, reflecting severance and other expenses associated with implementing the new organizational structure.
Which employees are most affected by Pharming Group’s (PHAR) 20% staff reduction?
The 20% net reduction applies to non-commercial and non-medical headcount, primarily at Pharming’s headquarters in Leiden, the Netherlands. Commercial and medical teams are not the focus of these cuts, as the restructuring targets general and administrative functions and broader organizational design.
Why is Pharming Group (PHAR) implementing this G&A reduction and restructuring?
Pharming states the restructuring is intended to accelerate the company’s growth and optimize capital allocation. By cutting G&A expenses by 15% and redesigning its organization, management aims to free more resources for core biopharmaceutical development and commercialization activities supporting its rare disease portfolio.
When will Pharming Group’s (PHAR) restructuring impact its financial statements?
Pharming indicates that about $7 million of one-time restructuring costs will be recorded in the fourth quarter of 2025. The targeted US$10 million annual general and administrative savings are expected to appear in subsequent reporting periods after implementation of the new structure is completed.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the Month of October 2025
Commission File Number: 001-39822
Pharming Group N.V.
(Exact Name of Registrant as Specified in Its Charter)
Darwinweg 24
2333 CR Leiden
The Netherlands
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Furnished as Exhibit 99.1 to this Report on Form 6-K is a press release of Pharming Group N.V., or the Company, dated October 6, 2025.
EXHIBIT INDEX
Exhibit No. | Description | |||||||
99.1 | Pharming Group provides update on previously announced G&A expense reduction plan | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Pharming Group N.V. | |||||||||||
By: | /s/ Fabrice Chouraqui | ||||||||||
Name: | Fabrice Chouraqui | ||||||||||
Title: | CEO | ||||||||||
Date: October 6, 2025
Pharming Group provides update on previously announced G&A expense reduction plan
Leiden, the Netherlands, October 6, 2025: Pharming Group N.V. (“Pharming” or “the Company”) (Euronext Amsterdam: PHARM / Nasdaq: PHAR) today announced the implementation of an organizational restructuring to accelerate the Company’s growth. The restructuring is aligned with our previously announced plan to reduce general and administrative (G&A) expenses to optimize capital allocation across the organization.
The restructuring includes a redesign of Pharming’s organizational structure and a 20% net reduction in non-commercial and non-medical headcount, primarily at our Netherlands headquarters. We remain on track to reduce total G&A expenses by 15% or US$10 million annually and anticipate one-time restructuring costs of approximately $7 million to be recorded in the fourth quarter of 2025 in connection with the headcount reduction.
Pharming has consulted with its Dutch Works Council over the past several months, in accordance with Dutch labor law, regarding the organizational changes.
About Pharming Group N.V.
Pharming Group N.V. (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) is a global biopharmaceutical company dedicated to transforming the lives of patients with rare, debilitating, and life-threatening diseases. We are developing and commercializing a portfolio of innovative medicines, including small molecules and biologics. Pharming is headquartered in Leiden, the Netherlands, with a significant proportion of its employees based in the U.S.
For more information, visit www.pharming.com and find us on LinkedIn.
Forward-looking Statements
This press release may contain forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in these statements. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. Examples of forward-looking statements may include statements with respect to timing and progress of Pharming's preclinical studies and clinical trials of its product candidates, Pharming's clinical and commercial prospects, and Pharming's expectations regarding its projected working capital requirements and cash resources, which statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to the scope, progress and expansion of Pharming's clinical trials and ramifications for the cost thereof; and clinical, scientific, regulatory, commercial, competitive and technical developments. In light of these risks and uncertainties, and other risks and uncertainties that are described in Pharming's 2024 Annual Report and the Annual Report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission, the events and circumstances discussed in such forward-looking statements may not occur,
and Pharming's actual results could differ materially and adversely from those anticipated or implied thereby. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Any forward-looking statements speak only as of the date of this press release and are based on information available to Pharming as of the date of this release. Pharming does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information.
Inside Information
This press release relates to the disclosure of information that qualifies, or may have qualified, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
For further public information, contact:
Pharming Group, Leiden, the Netherlands
Michael Levitan, VP Investor Relations & Corporate Communications
T: +1 (908) 705 1696
Saskia Mehring, Corporate Communications Manager
T: +31 6 28 32 60 41
E: investor@pharming.com
LifeSpring Life Sciences Communication, Amsterdam, the Netherlands
Leon Melens
T: +31 6 53 81 64 27
E: pharming@lifespring.nl
US PR
Ethan Metelenis
T: +1 (917) 882-9038
E: Ethan.Metelenis@precisionaq.com