Pharming plummets on drug knock-back

The share price of Leiden-based biotech firm Pharming almost halved on the Amsterdam stock exchange in early trading on Friday after the European medicines evaluation authority rejected an application by the company to allow it to market its new drug Rhucin.

The medicine, used to treat hereditary angioedema, is Pharming’s most important product. The company says it will appeal against the decision.

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