Pharming announced that its board of directors and chief executive officer Fabrice Chouraqui have mutually agreed that he will step down as CEO and executive director, effective immediately.

To ensure continuity, the board has appointed Leverne Marsh, chief commercial officer, and Kenneth Lynard, chief financial officer, as interim co-CEOs effective immediately, with Marsh leading patient-focused operations and Lynard leading global corporate functions while the Board conducts a formal search for a permanent successor.¹

Why is Chouraqui stepping down?

Following discussions about the execution of Pharming's strategic priorities for the company's next phase, the board and Chouraqui concluded that their views on how to advance the company's strategy were not sufficiently aligned, and in good consultation, the parties agreed on a leadership transition.¹ Pharming says its strategy, pipeline and commitment to patients remain unchanged, with focus continuing on executing strategic priorities and advancing the company's next phase of growth.

Both Pharming and Chouraqui say they will not comment further beyond the announcement, in order to support an orderly transition process.¹

What are Marsh and Lynard's roles?

As interim co-CEOs, Marsh will lead patient-focused operations while Lynard leads global corporate functions, an arrangement the Board designed to maintain continuity across the business while the search for a permanent chief executive proceeds.

"On behalf of the Board, I would like to express our appreciation for Mr. Chouraqui's contributions. We wish him well on his next endeavors," said Richard Peters, chairman of the Board of Directors of Pharming. "Our immediate priority is to ensure continuity across leadership, while maintaining focus on the continued execution of Pharming's strategy and its commitment to patients."

"It has been a privilege to lead Pharming and to work alongside colleagues who are deeply committed to improving the lives of people with rare diseases," Chouraqui said. "I have continually been inspired by the unwavering patient focus of our teams around the world and am deeply grateful for the passion and dedication they bring to our shared purpose every day. I leave with great confidence in their ability to continue expanding Pharming's impact for patients and their families."

What's the backdrop for the transition?

The leadership change comes as Pharming works through a recalibration of its financial targets. In its second-quarter and first-half 2026 results, the company lowered its full-year revenue guidance to between $375.0 million and $395.0 million, a $30 million reduction from prior guidance, while narrowing its total operating expense guidance to between $315.0 million and $320.0 million, an improvement of $15 million from prior guidance.²

Total revenues for the second quarter of 2026 came in at $90.2 million, a 3% decrease from the same period a year earlier, with the company describing Ruconest as resilient even as revenue from that product declined, poiting to continued growth in Joenja (leniolisib) revenue, which rose 40% in the quarter.² Pharming says it expects Ruconest revenues to stabilize and return to growth in the second half of 2026, alongside significant and accelerating Joenja growth in the U.S. and international markets.

Sources

1. Pharming announces CEO transition Pharming September 29, 2026, https://www.globenewswire.com/news-release/2026/09/29/3370380/0/en/pharming-announces-ceo-transition.html
2. Pharming reports second quarter and first half 2026 financial results and revises year-end guidance; strong Joenja momentum and near-term clinical readouts to support broader therapeutic use Pharming July 30, 2026, https://www.pharming.com/our-news/pharming-reports-second-quarter-and-first-half-2026-financial-results