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Sobi publishes Report for the First Quarter 2014

Press Release   •   May 08, 2014 08:43 GMT

Swedish Orphan Biovitrum AB (publ) (Sobi) today announced its results for the first quarter 2014. Revenues totalled SEK 573.3 M (528.5), an increase of 8 per cent. The Partner Products portfolio was a highlight, with 70 per cent growth compared to the first quarter last year.

Business Highlights Q1 2014

·  US FDA approved Alprolix™

·  Kiobrina® pivotal phase 3 study did not meet primary endpoint

·  Cometriq™ approved in Europe for the treatment of Medullary Thyroid Carcinoma

·  Health Canada approved Alprolix

·  Sobi received EURORDIS Company Award 2014

Financial Highlights Q1 2014 (Q1 2013)

·  Total revenues were SEK 573.3  M (528.5)

·  Gross margin was 56 per cent (57)

·  EBITA was SEK -287.8 M (61.2)

·  EBITA excluding Kiobrina write-off was SEK 37.1 M

·  Ended the quarter with a cash position of SEK 573.7 M

“Sobi delivered a solid start to the year, with revenues growing 8 per cent year-on-year to reach the second highest quarterly level in the company’s history. Our Partner Products portfolio was a highlight with 70 per cent growth compared to the first quarter last year. Our pipeline also reached several important milestones albeit with mixed results in the period. Our pivotal phase 3 study of the enzyme therapy Kiobrina did not meet its primary endpoint, and our report reflects the full financial impact of this outcome for the company“, said Geoffrey McDonough, CEO and President. “Shortly after the quarter closed, we released positive top-line results of the Kids A-LONG phase 3 clinical study for Eloctate™ together with our partner Biogen Idec. This important step brings this potential new treatment option closer to adults and children with haemophilia A, and it enables a regulatory submission in Europe later this year. We were also pleased to initiate direct sales for Orfadin in North America on 1 April, and expect Orfadin to return to normal revenues with higher margins as a result.”


Financial Summary

Amounts in SEK M

Q1 2014

Q1 2013

Full Year 2013

Total revenues

573.3

528.5

2 176.7

Gross profit

319.7

302.9

1 284.0

Gross margin

56%

57%

59%

EBITA

-287.8

61.2

211.0

EBITA excluding Kiobrina write-off

37.1

61.2

211.0

EBIT (Operating profit/loss)

-358.0

-3.4

-66.6

Profit/loss for the period

-328.7

-12.2

-93.0

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Sobi’s report for the first quarter 2014 can be found on http://www.sobi.com/Investors--Media/Reports/

The above information has been made public in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was released for public distribution on 8 May 2014.


About Sobi

Sobi is an international specialty healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primarily focused on Inflamma-tion and Genetic diseases, with three late stage biological development projects within Haemophilia and Neonatology. We also market a portfolio of specialty and rare disease products for partner companies. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2013, Sobi had total revenues of SEK 2.2 billion (€253 M) and about 550 employees. The share (STO: SOBI) is listed on NASDAQ OMX Stockholm. More infor-mation is available at www.sobi.com.

For more information please contact 
Media relations 
Oskar Bosson, Head of Communications 
T: +46 70 410 71 80
oskar.bosson@sobi.com

 Investor relations
Jörgen Winroth, Vice President, Head of Investor Relations 
T: +1 347-224-0819, +1 212-579-0506, +46 8 697 2135  
jorgen.winroth@sobi.com