<SEC-DOCUMENT>0001193125-20-323994.txt : 20210122
<SEC-HEADER>0001193125-20-323994.hdr.sgml : 20210122
<ACCEPTANCE-DATETIME>20201222100728
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-20-323994
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20201222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pharming Group N.V.
		CENTRAL INDEX KEY:			0001828316
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		DARWINWEG 24
		CITY:			LEIDEN
		STATE:			P7
		ZIP:			2333 CR
		BUSINESS PHONE:		31 (0)71 5247 400

	MAIL ADDRESS:	
		STREET 1:		DARWINWEG 24
		CITY:			LEIDEN
		STATE:			P7
		ZIP:			2333 CR

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Pharming Group Group N.V.
		DATE OF NAME CHANGE:	20201014
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<TITLE>FOIA Confidential Treatment Requested by Pharming Group N.V.</TITLE>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eric Blanchard </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">T: +1 212 479
6565 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">eblanchard@cooley.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>*FOIA
Confidential Treatment Request* </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Confidential Treatment Requested by Pharming Group N.V. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTAIN PORTIONS OF THIS LETTER HAVE BEEN OMITTED FROM THE VERSION FILED VIA EDGAR. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION THAT WAS OMITTED IN THE EDGAR VERSION HAS BEEN NOTED IN THIS LETTER WITH A </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PLACEHOLDER IDENTIFIED BY THE MARK &#147;[***]&#148;. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 22, 2020 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange
Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Life
Sciences </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. Washington, D.C. 20549 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Alan Campbell and Mary Beth Breslin </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Re: Pharming
Group N.V. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> Submitted October 14, 2020 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> Filed November&nbsp;25, 2020 (File
<FONT STYLE="white-space:nowrap">No.&nbsp;333-250984)</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CORRESP Filed on November&nbsp;25, 2020 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CIK No.&nbsp;0001828316 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Pharming Group N.V. (the &#147;<B><I>Company</I></B>&#148;), in response to comments from the staff (the &#147;<B><I>Staff</I></B>&#148;) of the
Division of Corporation Finance of the Securities and Exchange Commission (the &#147;<B><I>Commission</I></B>&#148;) with respect to the Company&#146;s Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1,</FONT> which was
submitted on October&nbsp;14, 2020 in respect of American Depositary Shares (&#147;<B><I>ADSs</I></B>&#148;) representing its ordinary shares, and which was subsequently updated by the Company with a Registration Statement on Form <FONT
STYLE="white-space:nowrap">F-1</FONT> filed with the Commission on November&nbsp;25, 2020 (the &#147;<B><I>Registration Statement</I></B>&#148;), we are submitting this supplemental letter to further address Comment No.&nbsp;16 of a letter from the
Staff dated November&nbsp;10, 2020, and the Company&#146;s response to the Staff&#146;s letter, originally filed with the Commission on November&nbsp;25, 2020 (the &#147;<B><I>November</I></B><B><I></I></B><B><I>&nbsp;25, 2020
Response</I></B>&#148;). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Confidential Treatment Request </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Due to the commercially sensitive nature of information contained in this letter, the Company hereby requests, pursuant to 17 C.F.R. &#167;200.83, that certain
portions of each of (i)&nbsp;this letter and (ii)&nbsp;the November&nbsp;25, 2020 Response be maintained in confidence, not be made part of any public record and not be disclosed to any person. The Company has filed a separate copy of this letter,
marked to show the portions redacted from the version filed via EDGAR and for which the Company is requesting confidential treatment. In accordance with 17 C.F.R. &#167;200.83(d)(1), if any person (including any governmental employee who is not an
employee of the Commission) should request access to or an opportunity to inspect this letter, we request that we be immediately notified of any such request, be furnished with a copy of all written materials pertaining to such request (including,
but not limited to, the request itself) and be given at least ten business days&#146; advance notice of any intended release so that the Company may, if it deems it to be necessary or appropriate, pursue any remedies available to it. In such event,
we request that you telephone the undersigned at (212) <FONT STYLE="white-space:nowrap">479-6565</FONT> rather than rely on the U.S. mail for such notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Eric Blanchard </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eric Blanchard </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">cc: Sijmen de Vries, M.D. MBA, Pharming Group
N.V. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">David Boles, Cooley LLP </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V. requests that the information contained in this letter, marked by brackets, be treated as </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to 17 C.F.R. &#167;200.83. </B></P>
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 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eric Blanchard </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">T: +1 212 479
6565 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">eblanchard@cooley.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">November&nbsp;25, 2020 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of
Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Life Sciences </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street,
N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Alan Campbell and
Mary Beth Breslin </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Pharming Group N.V. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> Submitted October&nbsp;14, 2020 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>CIK No.&nbsp;0001828316 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and
Gentlemen, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Pharming Group N.V. (the &#147;<B><I>Company</I></B>&#148;), the following information is provided in response to a letter, dated
November&nbsp;10, 2020, from the staff (the &#147;<B><I>Staff</I></B>&#148;) of the Division of Corporation Finance of the Securities and Exchange Commission (the &#147;<B><I>Commission</I></B>&#148;) with respect to the Company&#146;s Draft
Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1,</FONT> which was submitted on October&nbsp;14, 2020 in respect of American Depositary Shares (&#147;<B><I>ADSs</I></B>&#148;) representing its ordinary shares. The numbering of the
paragraphs below corresponds to the numbering of the comments in the letter. For the Staff&#146;s convenience, we have incorporated your comments into this response letter. Page references in the text of this response letter correspond to the page
numbers of the Registration Statement as filed on the date hereof (&#147;<B><I>Registration Statement</I></B>&#148;). Capitalized terms used in this response letter but otherwise not defined herein shall have the meanings ascribed to such terms in
the Registration Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> submitted October 14, 2020 Prospectus
Summary</U> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Message from the CEO, page 1 </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <I>We note your claim that you have been at the forefront of developing ground-breaking new therapies for the safe, effective treatment of rare diseases
since 1988. However, based on the subsequent disclosure in your document, it appears that only one of your product candidates has been approved and determined to be safe and effective by health regulatory authorities. Please revise your statement
accordingly to clarify that only one of your products has been found to be safe and effective to date. Please also provide us with the basis for your claim that you are at the forefront of developing new therapies for rare diseases.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the requested disclosure on page 1 of the Registration Statement. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Our Marketed Product: RUCONEST<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> for the treatment of acute HAE attacks, page 2 </U></I></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <I>We note your statement that you are currently developing a new generation <FONT
STYLE="white-space:nowrap">low-volume</FONT> formulation of RUCONEST</I><I><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></I><I> for intramuscular administration or other routes of administration. Please update your disclosure to briefly
describe how RUCONEST</I><I><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></I><I> is currently administered.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the
Staff&#146;s comment, the Company has added the requested disclosure on page 2 of the Registration Statement to clarify how RUCONEST<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> is currently administered. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>rhC1INH for the treatment of <FONT STYLE="white-space:nowrap">COVID-19,</FONT> page 3 </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <I>We note your discussion of the compassionate use program involving the administration of rhC1INH for the treatment of
<FONT STYLE="white-space:nowrap">COVID-19.</FONT> Please revise your disclosure here and elsewhere in the document where the results of the compassionate use program are described to clarify that the results from this program do not provide a
guarantee that rhC1INH will be deemed to be safe or effective for the treatment of <FONT STYLE="white-space:nowrap">COVID-19,</FONT> and that extensive clinical testing and regulatory approval will be required before rhC1INH can be commonly
prescribed for the treatment of <FONT STYLE="white-space:nowrap">COVID-19.</FONT> Please also revise to avoid characterizing the results of the program as &#147;encouraging&#148; as this may create an inference that your product is more likely to be
found safe and effective, which is a determination solely in the authority of regulatory agencies such as the FDA. Please make similar revisions throughout your document, such as where you describe certain results as &#147;particularly
promising&#148; or positive.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the requested disclosure on pages 3, 72, 78 and <FONT
STYLE="white-space:nowrap">F-61</FONT> of the Registration Statement to clarify the results from the compassionate use program involving the administration of rhC1INH for the treatment of <FONT STYLE="white-space:nowrap">COVID-19.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <I>We note your discussion of your current clinical trial of rhC1INH for the treatment of <FONT STYLE="white-space:nowrap">COVID-19</FONT> and your planned
clinical trial in the U.S. Please update your disclosure to clarify (i)</I><I></I><I>&nbsp;the phase (1, 2 or 3) of the clinical trial you are conducting, the trial&#146;s endpoints and when you expect to report topline results and
(ii)</I><I></I><I>&nbsp;whether an IND has been submitted for your planned clinical trial in the U.S.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the
Company has revised the requested disclosure on page 3 of the Registration Statement to clarify progress of the clinical trials and IND submission. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Implications of Being an Emerging Growth Company and a Foreign Private Issuer, page 6 </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <I>Please supplementally provide us with copies of all written communications, as defined in Rule 405 under the Securities Act, that you, or anyone
authorized to do so on your behalf, present to potential investors in reliance on Section</I><I></I><I>&nbsp;5(d) of the Securities Act, whether or not they retain copies of the communications.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that it does not intend to, and has not authorized anyone to, engage in written communications in reliance on
Section&nbsp;5(d) of the Securities Act. </P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 3 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Risk Factors </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Risks Related to Our Business, page 11 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <I>We
note your disclosure on page <FONT STYLE="white-space:nowrap">F-40</FONT> that you have granted the China Shanghai Institute of Pharmaceutical Industry an exclusive license to commercialize RUCONEST</I><I><SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP></I><I> in China. Please update your disclosure in the Risk Factors section to clarify, if true, that you will not be able to launch
RUCONEST</I><I><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></I><I> in China.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has
revised the disclosure on page 12 of the Registration Statement to clarify that it is dependent on the China Shanghai Institute of Pharmaceutical Industry to launch RUCONEST in China. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Industry and Market Data, page 48 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <I>Your
statement that no independent source has verified your internal company research may imply an inappropriate disclaimer of responsibility with respect to such research. Please either delete this statement or specifically state that you are liable for
such information.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has removed the requested disclosure on page 49 of the Registration Statement.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Selected Consolidated Financial Data </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Interim Financial Statements, page 51 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <I>Please
clarify whether the interim financial statements for the nine months ended September 30 are unaudited in this section and other relevant sections of the filing.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has added the requested clarification on pages 9 and 52 and other relevant sections of the filing, noting
in the introductory paragraphs that the selected and summary consolidated financial data as of September 30, 2020 and 2019 has been derived from our &#147;Unaudited Interim Financial Statements&#148;, defined on the <I>Presentation of Financial and
Share Information </I>section on page iii of the Registration Statement. The term &#147;Unaudited Interim Financial Statements&#148; has been consistently applied throughout. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Consistent with the guidance in the Staff&#146;s Financial Reporting Manual 4870.1, the Company has not separately labelled the tabular selected and summary
consolidated financial data on the basis that the procedures under <I>AS 3315 Reporting on Condensed Financial Statement and Selected Financial Data </I>have not been performed on such tabular information. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Key Business Measures, page 53 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.
<I>&#147;Adjusted EBITDA&#148; includes an adjustment for impairment and reversal of impairment for the periods presented. It appears that a </I><I>&#128;</I><I>2.6</I><I></I><I>&nbsp;million impairment charge in 2018 was reversed in 2019 due to the
down prioritized development track of a small variant of RUCONEST. Based on your disclosures on page <FONT STYLE="white-space:nowrap">F-32,</FONT> it appears that there was an additional impairment of
</I><I>&#128;</I><I>1.9</I><I></I><I>&nbsp;million which was recorded and offset against the </I><I>&#128;</I><I>2.6</I><I></I><I>&nbsp;million reversal. Please tell us why the </I><I>&#128;</I><I>1.9</I><I></I><I>&nbsp;million impairment was not
recognized as an adjustment in 2019 on page 53. In that regard, please tell us how you considered Question 100.02 of the Staff&#146;s <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Compliance and Disclosure Interpretations and Rule 100(b) of
Regulation G.</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 4 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 54 of
the Registration Statement to recognize the &#128;1.9&nbsp;million impairment as an adjustment in 2019, pursuant to the Staff&#146;s <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Compliance Disclosure Interpretations and Rule 100(b) of Regulation
G. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Management&#145;s Discussion and Analysis of Financial Condition and Results of Operations Results of Operations </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Cost of Research and Development, page 59 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.
<I>Please disclose the costs incurred during each period presented for each of your key research and development projects/product candidates discussed on pages 2 and 66. If you do not track your research and development costs by project/product
candidates, please disclose that fact. Provide other quantitative or qualitative disclosure that provides more transparency as to the type of research and development expenses incurred (i.e. by nature or type of expense) for your research and
development expenses.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 57 of the Registration Statement. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Liquidity and Capital Resources, page 61 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11.
<I>Please include a discussion of your </I><I>&#128;</I><I>125</I><I></I><I>&nbsp;million in convertible bonds due in 2025 in this section. Refer to Item 5.B. of Form 20-F (incorporated into Item 4 of Form
<FONT STYLE="white-space:nowrap">F-1).</FONT></I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has added the requested disclosure on page 66 of
the Registration Statement to discuss the convertible bonds due in 2025. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Business Acute Kidney Injury (AKI), page 73 </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12. <I>Please update your description of the Phase 2 investigator-initiated study rhC1INH in patients at risk of nephropathy resulting for contrast- enhanced
examinations to include the following:</I> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>The primary and secondary endpoints of the trial and whether they were achieved.</I> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>A brief explanation of statistical significance.</I> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Whether any adverse events and/or serious adverse events occurred that were linked to treatment. If any such
events occurred, please include the nature of each such event and the number of patients that experienced it.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please also revise
your disclosure to briefly explain the miTT, PP and PCI measures in your chart on page 74 and how they relate to the overall NGAL level measured. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on page 72 of the Registration Statement to discuss the Phase 2 investigator-initiated study of rhC1INH for the treatment of AKI. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Leniolisib for the treatment of Activated Phosphoinositide
<FONT STYLE="white-space:nowrap">3-kinase</FONT> Delta Syndrome, page 75 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">13. <I>We note your statement that leniolisib has proven to be safe to
date. Safety is a determination that is solely within the authority of the FDA and foreign regulators. You may state that your product candidate has been well-tolerated, if true. We further note that leniolisib has been evaluated in a Phase 1
clinical trial. Please update your description of this clinical trial to include the number of subjects in the trial; the primary and secondary endpoints and whether they were achieved; and whether any AEs or SAEs occurred that were linked to
treatment and the nature and number of these AEs/SAEs. Finally, please update your description of the ongoing Phase 2/3 clinical trial of leniolisib to disclose the endpoints of this trial.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages 73 and 81 of the Registration Statement to discuss the Phase 1
clinical trial of leniolisib. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Manufacturing, page 77 </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14. <I>We note your disclosure on pages <FONT STYLE="white-space:nowrap">19-20</FONT> which indicates that you rely on a sole supplier for certain of your
components and materials and that in some cases, there are no alternative sources of supply for certain of the components used to produce your product candidates. Please update your discussion in &#147;Manufacturing&#148; to include a discussion of
how you obtain the supplies for your product candidates, including your reliance on a single supplier, and whether there are alternative sources of supply the raw materials and components used in your product candidates.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To the extent you are substantially dependent on any agreements with your suppliers, please identify them, describe the material terms and file the agreements
as exhibits. If you believe you are not substantially dependent on the agreements, please provide us with an analysis supporting your belief. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response
to the Staff&#146;s comment, the Company has revised the disclosure on pages 19 and 20 of the Registration Statement to clarify that it does not rely on a sole source supplier for certain of its components and materials. Additionally, the Company
respectfully submits that it is not required to file agreements with its suppliers, because it has determined that, pursuant to Item 601(b)(10) of Regulation <FONT STYLE="white-space:nowrap">S-K,</FONT> it is not substantially dependent on any such
agreements as there are alternate sources available for the supply of components of its product and product candidates. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Material Agreements, page
80 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">15. <I>Please update your description of your agreement with Novartis to include the following:</I> </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>the date of the agreement;</I> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>each parties&#146; rights and obligations under the agreement;</I> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>disclose separately the aggregate amount of all potential development, regulatory </I>and commercial milestone
payments; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

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<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>disclose the amount of option fees for additional targets, if any; quantify the royalty rate, or a range no
greater than 10 percentage points per tier; </I></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>disclose when royalty provisions expire, and if the expiration is based on a number of years following
commercialization, disclose the number of years; </I></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>disclose the expiration date; and</I> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>describe any termination provisions.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 86 of the Registration Statement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">16. <I>We note your disclosure on pages 57 and F-60 regarding your agreement with Bausch Health Companies Inc. (formerly Valeant Pharmaceuticals International)
pursuant to which you acquired North American commercialization rights to RUCONEST</I><I><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></I><I> and under which you may be required to make additional milestone payments. Please expand your
disclosure to describe the material terms of this agreement, such as term and termination provisions and the parties&#146; rights and obligations, including payment terms. Also, please file the agreement as an exhibit or tell us why you do not
believe it is required to be filed.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company acknowledges that Staff&#146;s comment and respectfully submits that it is not required to file the
Bausch Health Companies Inc. agreement referenced on pages 58 and <FONT STYLE="white-space:nowrap">F-60</FONT> for the following reasons. Item 601 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Act of 1933, as
amended, provides that material agreements not made in the ordinary course of business should be filed as an exhibit to a filed report. With certain exceptions, agreements made in the ordinary course of business need not be filed. According to Item
601(b)(10)(ii), an agreement deemed to have been made in the ordinary course of business need not be filed unless it falls within one or more exceptions, &#147;in which case it shall be filed except where immaterial in amount or significance.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company has determined that the Bausch agreement is not a material agreement of the Company because the only remaining obligation is to pay a final
sales milestone amount of $25&nbsp;million. The Company anticipates that the sales will be achieved and the milestone payment will be due during 2021. The Company has disclosed this potential payment on page 58 of the Registration Statement. After
the final milestone payment is made, [***] there are no further obligations of the Company in the agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff
that, given the final milestone payment is the only remaining obligation of the Company under the agreement, and that such potential payment is disclosed in the Registration Statement, it does not believe disclosure of additional terms or filing the
Bausch Health Companies Inc. agreement would provide any helpful information to investors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Related Party Transactions, page 104 </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">17. <I>Please file the agreement for your investment in BioConnection B.V. as an exhibit to your registration statement or provide us with your analysis
explaining why this agreement is not required to be filed.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company acknowledges that Staff&#146;s comment and respectfully submits that it is not
required to file the agreement of the Company to invest in BioConnection B.V. referenced on page 110 for the following reasons. Item 601 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Act of 1933, as amended, provides
that material agreements not made in the ordinary course of business should be filed as an exhibit to a filed report. With certain exceptions, agreements made in the ordinary course of business need not be filed. According to Item 601(b)(10)(ii), an
agreement deemed to have been made in the ordinary course of business need not be filed unless it falls within one or more exceptions, &#147;in which case it shall be filed except where immaterial in amount or significance.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company has determined that the BioConnection agreement is not material to the Company, and the Company had disclosed the BioConnection agreement due to
the Company&#146;s significant equity holdings in BioConnection. The Company had entered into the agreement to invest in BioConnection, its fill and finish partner, in order to finance BioConnection&#146;s
<FONT STYLE="white-space:nowrap">scale-up</FONT> associated with increased sales of the Company&#146;s product. Despite its stake in BioConnection, the Company is not substantially dependent on BioConnection and adequate alternative fill and finish
partners are available. Further, in Management&#146;s judgment, while the Company has significant influence, it does not have control of BioConnection. In particular, the Company is restricted by a shareholders agreement between the shareholders of
BioConnection from influencing any activity between the Company and BioConnection which is in any significant way different from the relationship which existed between the two parties prior to the investment. The Company also does not control the
voting rights or the economic benefits of BioConnection. In Management&#146;s judgment, the agreement was entered into on an arms&#146; length basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
Company respectfully advises the Staff that it does not believe filing the BioConnection agreement would provide any helpful information to investors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Stock Exchange Listing, page 123 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">18. <I>We note
your disclosure that you intend to apply to list your ADSs on the Nasdaq Global Market. Please tell us which listing standard you will rely on in your application. We may have further comment.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company notes that, while it believes that it meets the requirements of each of the listing standards of the
Nasdaq Global Market, it will rely on the Total Assets/Total Revenue Standard to list its ADSs. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 8 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Description of American Depositary Shares </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Governing Law, page 136 </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">19. <I>We note your
disclosure that the deposit agreement provides that the depositary may, in its sole discretion, require that any dispute or difference arising from the agreement be referred to and finally settled by arbitration. Please clarify whether this
provision precludes an ADS holder from pursuing claims under federal securities laws in federal courts and add risk factor disclosure, as appropriate. Also provide risk factor disclosure of the risks related to the provision that ADS holders
irrevocably agree that any legal suit, action or proceeding against or involving the depositary brought by ADR holders or beneficial owners, arising out of or based upon the deposit agreement, the ADSs, the ADRs or the transactions contemplated
thereby, may only be instituted in a state or federal court in New York, New York.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company confirms that
the deposit agreement does not provide for arbitration and therefore, the Company has removed the disclosure that the deposit agreement provides that the depositary may require that any dispute or different arising from the agreement be referred to
and settled in arbitration. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Jury Trial Waiver, page 137 </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">20. <I>We note your disclosure regarding the waiver of jury trial provision. Please include a risk factor to highlight the material risks related to this
provision, including the possibility of less favorable outcomes, uncertainty regarding its enforceability, the potential for increased costs to bring a claim, whether it may discourage or limit suits against you or the depositary and whether the
provision applies to purchasers in secondary transactions. Also disclose whether this provision would apply if the ADS holder were to withdraw the ordinary shares.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has added the requested disclosure relating to the risks of the waiver of a jury trial on pages 46 and 47
of Registration Statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>2.3 Accounting principles and policies</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Research and Development Costs, page <FONT STYLE="white-space:nowrap">F-17</FONT></U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">21. <I>We note your disclosure that any expenditure capitalised is amortized over the period of expected useful life of the related patents. Please further
expand your policy to disclose when you typically begin amortization of development costs including when you typically obtain the related patents that would allow for amortization to commence. Please clarify whether the patents are obtained in
conjunction with receiving approval for commercialization of the underlying product candidate. In that regard, your disclosures should highlight when you typically view such assets to meet the conditions of paragraph 97 of IAS 38.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has added the requested disclosure relating to amortization of capitalized development costs on page <FONT
STYLE="white-space:nowrap">F-17</FONT> of Registration Statement. Further, the Company notes that Patents are usually applied for in advance of our product approvals or in advance of application for product approval, as patenting occurs during our
product development stages. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 9 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please contact me at 1 212 479 6565 with any questions or further comments regarding the company&#146;s
responses to the Staff&#146;s comments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/
Eric Blanchard </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eric Blanchard </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">cc:&nbsp;&nbsp;&nbsp;&nbsp;Sijmen de Vries, M.D. MBA, Pharming Group N.V. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">David Boles, Cooley LLP </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pharming Group N.V.
requests that the information contained in this letter, marked by brackets, be treated as</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>confidential&nbsp;information pursuant to
17 C.F.R. &#167;200.83.</B> </P>

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