(Reuters) – Spanish pharmaceutical group PharmaMar on Thursday said its nine-month net profit slipped to 54.7 million euros ($63.92 million), contracting 58% from a year ago when it booked a hefty gain from a licence payment.
PharmaMar, which develops marine-inspired oncology drugs, said recurring revenue rose 31% to 119.4 million euros over the period, helped by the demand for its cancer treatments. It booked the 181 million euro upfront licence payment in the first half of last year.
($1 = 0.8558 euros)
(Reporting by Anita Kobylinska; Editing by Nathan Allen)
