Pharming Group provides update on previously announced G&A expense reduction plan

Core Insights - Pharming Group N.V. is implementing an organizational restructuring to accelerate growth and optimize capital allocation by reducing general and administrative expenses [1][2] Restructuring Details - The restructuring involves a redesign of the organizational structure and a 20% net reduction in non-commercial and non-medical headcount, primarily at the Netherlands headquarters [2] - The company aims to reduce total G&A expenses by 15%, equating to approximately US$10 million annually, with one-time restructuring costs expected to be around $7 million in Q4 2025 [2] Consultation Process - Pharming has engaged with its Dutch Works Council over the past several months to discuss the organizational changes in compliance with Dutch labor law [3] Company Overview - Pharming Group N.V. is a global biopharmaceutical company focused on developing and commercializing innovative medicines for patients with rare and life-threatening diseases [4]