Dutch biopharmaceutical company Pharming Group has issued a statement confirming that it is carrying out the previously announced cost-saving plan. The company is focusing on reducing general and administrative (G&A) expenses, which in practice means that up to 20% of employees may be laid off.
The Pharming Group emphasized that the reductions will affect only non-medical personnel, primarily in administrative, legal, and marketing departments. According to the company’s statement, the process is being conducted in full compliance with Dutch labor law and has been under consultation with Dutch trade unions for several months.
Overall cost reductions are expected to reach around 15% annually, resulting in approximately $10 million in yearly savings. However, achieving this target will require a one-time expense of about $7 million.
The layoffs and cost-cutting measures are intended to have a tangible impact. The $10 million saved each year will be reinvested in the development and commercialization of new drugs, which should accelerate Pharming’s long-term growth and increase shareholder value.
Pharming’s current situation reflects a broader trend of layoffs and cost-cutting across the pharmaceutical industry. The year 2025 has been particularly harsh in this regard. So far, Bayer has laid off more than 12,000 employees, Bristol Myers Squibb (BMS) has cut over 1,000 positions, and even Pfizer, which had performed strongly since the COVID-19 pandemic, has not been spared from job reductions.