Bondholders convert EUR7.7 million of their remaining bonds into Pharming Shares and
                                          cash 

                    Further reduction in net debt and interest payments  

         Cash balance following conversion (prior to year-end) was EUR56.0 million 

    Pharming Group N.V. ("Pharming" or "the Company") (Euronext Amsterdam: PHARM)
announced today that it has issued a total of 25,441,901 new shares and EUR1.9 million of
cash to redeem EUR7.7 million of the Ordinary Convertible Bonds ("Bonds"). Following this
conversion election in late December 2017, 94% of the outstanding bonds have now been
redeemed, leaving only EUR0.8 million remaining Bonds.

    The newly issued shares represent 4.6% of the outstanding share capital immediately
prior to the issue.  The number of shares in issue following conversion is 579,014,891.
Bonds eligible to convert into a further 1,653,169 shares were settled for cash of EUR1.9
million, so this number of shares has been removed from the fully diluted number of
shares.

    This conversion greatly reduces the earnings volatility associated with non-cash
related IFRS adjustments, which would otherwise have had a large negative effect on the
Company's reported net profit in the fourth quarter of 2017 as a result of the significant
share price appreciation in that quarter.

    The conversion to equity is satisfied from the reserved authorised share capital and
derivative financial liabilities and there is no net effect on the available share capital
('headroom'). The cash settlement portion of bonds converted to cash instead of shares
does increase the headroom, which now stands at 143,436,621 shares.  

    The cash element is being met from existing resources, and the Company's cash balance
after accounting for this exercise will be EUR56.0 million (30 September 2017: EUR38.6
million).

    Dr Sijmen de Vries, Chief Executive Officer of Pharming, commented:  

    "Since re-acquiring the rights to RUCONEST(R) we have built a self-sustaining and
independent sales led pharmaceutical business, which is now profitable and cash
generative. This will help Pharming build net reported earnings in future quarters
following the achievement of operating profitability throughout 2017. These early
conversions will preserve Pharming's cash further, enabling greater capital to drive
growth in our pipeline products, and improve profitability through reduced interest
payments.  The consequent reduced non-cash IFRS adjustments related to derivative
financial liabilities accounting will further reduce reported earnings volatility. The
bondholders involved have expressed their intention to retain most of these shares for the
future, and their holdings in Pharming at the time of conversion are each just below the
3% level." 

    About Pharming Group N.V. 

    Pharming is a specialty pharmaceutical company developing innovative products for the
safe, effective treatment of rare diseases and unmet medical needs. Pharming's lead
product, RUCONEST(R) (conestat alfa) is a recombinant human C1 esterase inhibitor approved
for the treatment of acute Hereditary Angioedema ("HAE") attacks in patients in Europe,
the US, Israel and South Korea. The product is available on a named-patient basis in other
territories where it has not yet obtained marketing authorization.

    RUCONEST(R) is commercialized by Pharming in Algeria, Andorra, Austria, Bahrain,
Belgium, Canada, France, Germany, Ireland, Jordan, Kuwait, Lebanon, Luxembourg, Mexico,
Morocco, the Netherlands, Oman, Portugal, Qatar, Syria, Spain, Switzerland, Tunisia, the
United Arab Emirates, the United Kingdom, the United States of America and Yemen.

    RUCONEST(R) is distributed by Swedish Orphan Biovitrum AB (publ) (SS: SOBI) in the
other EU countries, and in Azerbaijan, Belarus, Georgia, Iceland, Kazakhstan,
Liechtenstein, Norway, Russia, Serbia and Ukraine.

    RUCONEST(R) is distributed in Argentina, Colombia, Costa Rica, the Dominican Republic,
Panama, and Venezuela by Cytobioteck, in South Korea by HyupJin Corporation and in Israel
by Megapharm.

    RUCONEST(R) has recently completed a clinical trial for the treatment of HAE in young
children (2-13 years of age) and is also evaluated for various additional follow-on
indications.

    Pharming's technology platform includes a unique, GMP-compliant, validated process for
the production of pure recombinant human proteins that has proven capable of producing
industrial quantities of high quality recombinant human proteins in a more economical and
less immunogenetic way compared with current cell-line based methods. Leads for enzyme
replacement therapy ("ERT") for Pompe and Fabry's diseases are being optimized at present,
with additional programs not involving ERT also being explored at an early stage at
present.

    Pharming has a long-term partnership with the China State Institute of Pharmaceutical
Industry ("CSIPI"), a Sinopharm company, for joint global development of new products,
starting with recombinant human Factor VIII for the treatment of Haemophilia A.
Pre-clinical development and manufacturing will take place to global standards at CSIPI
and are funded by CSIPI. Clinical development will be shared between the partners with
each partner taking the costs for their territories under the partnership.

    Pharming has declared that the Netherlands is its "Home Member State" pursuant to the
amended article 5:25a paragraph 2 of the Dutch Financial Supervision Act.

    Additional information is available on the Pharming website:
http://www.pharming.com

    Forward-looking Statements 

    This press release of Pharming Group N.V. and its subsidiaries ("Pharming", the
"Company" or the "Group") may contain forward-looking statements including without
limitation those regarding Pharming's financial projections, market expectations,
developments, partnerships, plans, strategies and capital expenditures. 

    The Company cautions that such forward-looking statements may involve certain risks
and uncertainties, and actual results may differ. Risks and uncertainties include without
limitation the effect of competitive, political and economic factors, legal claims, the
Company's ability to protect intellectual property, fluctuations in exchange and interest
rates, changes in taxation laws or rates, changes in legislation or accountancy practices
and the Company's ability to identify, develop and successfully commercialize new products,
 markets or technologies. 

    As a result, the Company's actual performance, position and financial results and
statements may differ materially from the plans, goals and expectations set forth in such
forward-looking statements. The Company assumes no obligation to update any
forward-looking statements or information, which should be taken as of their respective
dates of issue, unless required by laws or regulations. 

    Contact: 

    Pharming Group N.V. 

    Sijmen de Vries, CEO, Tel: +31-71-524-7400

    Robin Wright, CFO, Tel: +31-71-524-7400

    FTI Consulting, London, UK: 

    Julia Phillips/ Victoria Foster Mitchell, T: +44-203-727-1136

    LifeSpring Life Sciences Communication, Amsterdam, The Netherlands:  

    Leon Melens, Tel: +31-6-53-81-64-27

        PRN NLD



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