Press release -

Sobi publishes its Report for the Second Quarter 2015 – raises guidance

Swedish Orphan Biovitrum AB (publ) (Sobi) today announced its results for the second quarter 2015. Revenues for the quarter totalled SEK 764 M (663), an increase of 15 percent year-on year. The product portfolio grew 25 per cent with Orfadin® and Kineret® delivering strong performance.

Business Summary Q2 2015

  • European Commission approved Orfadin oral suspension and 20 mg capsule
  • Sobi's collaboration partner Biogen submitted the Marketing Authorisation Application for Alprolix® (rFIXFc) in Europe
  • New haemophilia data presented with 23 abstracts at the ISTH 2015 congress
  • The European Medicines Agency validated the Marketing Authorisation Application for Alprolix
  • Received orphan drug designation for Elocta™ (rFVIIIFc) in Switzerland

Financial Summary Q2 2015 (Q2 2014)

  • Total revenue was SEK 764 M (663), an increase of 15 per cent (4 percent at CER)
  • Product revenue was SEK 593 M (476), an increase of 25 per cent (12 percent at CER)
  • Gross margin was 63 per cent (61)
  • EBITA was SEK 74 M (86)
  • Ended the quarter with a cash position of SEK 763 M

"The second quarter marks the end of a strong first half year, highlighted by the strength and momentum of Sobi’s base business with solid growth across the portfolio, and by significant milestones for our long-acting Haemophilia franchise and for Orfadin” said Geoffrey McDonough, CEO and President. "Total revenues increased by 15 per cent to SEK 764 M, gross margin was in line with our expectations, and cash flow increased compared to the same period last year."

Outlook 2015 – raised guidance

Based on the results for the first two quarters 2015, Sobi now expects total revenues for the full year to be in the range of SEK 3,000 to 3,200 M, (previously 2,800 to 3,000) and gross margin to be in the range of 59 to 61 per cent (previously 58 to 60 per cent). Operating costs are projected to increase as the company continues to prepare for the planned launch of Elocta. Sobi expects EBITA to be in the range of SEK 325-400 M.[1] The outlook for 2015 excludes revenue from the potential European launch of Elocta.

Financial Summary
Q2 Q2 H1 H1 Full year
Amounts in SEK M 2015 2014 Change 2015 2014 Change 2014
Total revenues 764 663 15% 1,629 1,236 32% 2,607
Gross profit 482 406 19% 1,001 726 38% 1,548
Gross margin 63% 61% 61% 59% 59%
EBITA1 74 86 -14% 247 -202 >100% -43
EBITA excluding write-offs 74 86 -14% 247 123 100% 307
EBIT (Operating profit/loss) 3 16 -83% 105 -342 >100% -325
Profit/loss for the period 9 26 -66% 115 -303 >100% -268
1 H1 2014 includes write-offs relating to Kiobrina of SEK 325 M in Q1

[1] The original outlook presented on 19 February 2015 stated that “Sobi expects EBITA to be in line with the adjusted 2014 level”.

Sobi announces the information set out in this press release pursuant to the Swedish Securities Market Act. The information was submitted for publication at 08:00 CET on 16 July 2015.

Topics

  • Health, Health Care, Pharmaceuticals

Categories

  • q2 2015
  • sobi

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 Haemophilia, Inflammation and Genetic diseases. We also market a portfolio of specialty and rare disease products for partner companies across Europe, the Middle East, North Africa and Russia. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2014, Sobi had total revenues of SEK 2.6 billion (USD 380 M) and about 600 employees. The share (STO: SOBI) is listed on NASDAQ OMX Stockholm. More information 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

Contacts

Related content

  • Sobi exercises opt-in right for Alprolix®

    Sobi announced today that the company has decided to exercise its opt-in right to take over final development and commercialisation of Alprolix (rFIXFc) for the territory composed of Europe, North Africa, Russia and certain Middle Eastern markets. Alprolix is a recombinant factor IX Fc fusion protein product candidate for the treatment of haemophilia B.

  • European Commission approves Orfadin® oral suspension

    The European Commission has approved the oral suspension formulation of Orfadin® (nitisinone) for the treatment of Hereditary Tyrosinaemia type-1 (HT-1) as of 19 June 2015. “The new oral suspension formulation is a demonstration of Sobi’s commitment to the needs of the infants and children diagnosed with HT-1 early in life,” says Birgitte Volck, Chief Medical Officer of Sobi.

  • New haemophilia data at ISTH congress to highlight extension study outcomes and paediatric use

    Sobi and Biogen will present 23 company-sponsored platform and poster presentations at the ISTH 2015 congress taking place in Toronto, Canada, 20-25 June 2015. - Full results from Kids B-LONG Alprolix® paediatric study to be released for the first time - - Interim findings from ASPIRE, an open label extension study with Eloctate®/Elocta® in adults and children with haemophilia A -

  • Sobi publishes its Report for the First Quarter 2015

    Sobi today announced its results for the first quarter 2015. Revenues for the quarter totalled SEK 865 M (573). All parts of the business contributed to the result with ReFacto®, Orfadin® and Kineret® delivering strong performance.

  • Sobi publishes its Report for the Fourth Quarter and Full Year 2014

    Sobi today announced its results for the fourth quarter and full year 2014. Revenues for the year totalled SEK 2,607 M (2,177), an increase of 20 per cent. Revenues in the fourth quarter were 15 per cent higher compared to the previous year. All parts of the business contributed to the result with Orfadin® and the Partner Products portfolio delivering strong performance.

  • Sobi publishes 2015 Annual Report

    Sobi today published its 2015 Annual Report, themed “A new chapter of our story”. The integrated report summarises the business as well as financial highlights for 2015, and gives a deeper insight into the company’s strategic agenda and its patient-centric innovation model.

  • Sobi™ publishes its report for the first quarter 2016

    Sobi™ today announced its results for the first quarter 2016. Revenue for the quarter totalled SEK 1,273 M (865), an increase of 47 per cent compared to previous year. All parts of the business contributed to the result with Orfadin® and Kineret® delivering strong performance.

  • Sobi™ publishes its report for the fourth quarter and full year 2015

    Sobi today announced its results for the fourth quarter and full year 2015. Revenues for the full year totalled SEK 3,228 M (2,607), an increase of 24 per cent compared to previous year. Revenues for the fourth quarter were 15 per cent higher year-on-year and the product revenues grew 21 per cent, with Orfadin® (nitisinone) and Kineret® (anakinra) delivering strong performance.

Enter your email address to follow Sobi

When you choose to create a user account and follow a newsroom your personal data will be used by us and the owner of the newsroom, for you to receive news and updates according to your subscription settings.

To learn more about this, please read our Privacy Policy, which applies to our use of your personal data, and our Privacy Policy for Contacts, which applies to the use of your personal data by the owner of the newsroom you follow.

Please note that our Terms of Use apply to all use of our services.

You can withdraw your consent at any time by unsubscribing or deleting your account.
Check your inbox

Email sent to __email__. Click the link there to follow Sobi.

Okay