Sobi publishes Q2 2023 report: Growth and pipeline expansion

Swedish Orphan Biovitrum AB (publ) (Sobi®) today announced its report for the second quarter 2023

 

Second quarter 2023

• Total revenue increased 26 per cent, +16 per cent at constant exchange rates, (CER)i, to SEK 4,872 M (3,876)
• Haematology revenue increased 18 per cent at CER to SEK 3,430 M (2,688). Driven by Doptelet® +74 per cent at CER and the launch of Aspaveli®/Empaveli® SEK 144 M
• Immunology revenue increased 29 per cent at CER to SEK 1,179 M (847). Driven by Gamifant® +73 per cent at CER and Kineret® +12 per cent at CER
• Adjusted EBITAi margin expanded by 1 percentage point to 26 per cent, excluding transaction costs and other items affecting comparability (IAC)ii. EBITA at SEK 1,009 M (944), a margini of 21 per cent (24). EBIT SEK 413 M (423), EBIT adjustedi SEK 649 M (437)
• Earnings per share (EPS) before dilution SEK 0.75 (0.87), EPS adjusted before dilutioni SEK 1.48 (0.91). Cash flow from operating activities SEK 357 M (295)
• The acquisition of CTI BioPharma Corp. (CTI) was completed
• After the end of the quarter, the FDA approved Sanofi and AstraZeneca’s Beyfortus™ (nirsevimab-alip) for the prevention of RSV in babies and toddlers
• The Board has today summoned an extraordinary general meeting, to be held on 15 August 2023, to resolve on, among other things, an authorisation for the Board of Directors to resolve on a rights issue of approximately SEK 6 billion, to refinance part of the debt incurred in connection with the acquisition of CTI

Outlook 2023 - updated

• Revenue is anticipated to grow by a high single-digit percentage at CER (previous guidance low-to-mid single digit)
• EBITA margin adjustedi is anticipated to be at a low 30s percentage of revenue (unchanged)
   

The outlook includes the newly acquired company CTI and Sobi's right to royalty on net sales of nirsevimab in the US.

 

 

Investors, analysts and media are invited to participate in a conference call which will include a presentation of the results and a Q&A session at 13:00 CEST.

 

The presentation can be followed live here or afterwards on sobi.com. The slides will be made available on sobi.com prior to the conference call.

 

To participate in the conference call, please use the following dial-in details:

Sweden: +46 8 5051 0031

United Kingdom: +44 207 107 06 13

United States: +1 631 570 56 13

For other countries, please get details here

 

Sobi

Sobi® is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology and specialty care, Sobi has approximately 1,600 employees across Europe, North America, the Middle East, Asia and Australia. In 2022, revenue amounted to SEK 18.8 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com, LinkedIn and YouTube.

 

Contacts

For details on how to contact the Sobi Investor Relations Team, please click here. For Sobi Media contacts, click here.

 

This information is information that Sobi is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, on 18 July 2023 at 08:00 CEST.

 

Jennifer Kretzmann

Manager of Stakeholder Communication and Corporate Access