Sobi Q3 2024 report: Strong growth and significant pipeline momentum

Swedish Orphan Biovitrum AB (publ) (Sobi®) today announced its report for the third quarter 2024

Third Quarter 2024

•         Total revenue increased 33 per cent, 39 per cent at constant exchange rates, (CER)1, to SEK 6,894 M (5,168)

•         Haematology revenue increased 18 per cent at CER to SEK 4,000 M (3,484), mainly driven by strong sales of Doptelet^® of SEK 1,039 M (650), sales of Aspaveli^®/Empaveli^® of SEK 270 M (169) and launch sales of Altuvoct^® of SEK 129 M (—) 

•         Immunology revenue increased 96 per cent at CER to SEK 2,583 M (1,400), driven by strong Beyfortus^® royalty of SEK 1,478 M (263) and sales of Kineret^® of SEK 699 M (600)

•         Revenue from medicines in the strategic portfolio* grew by 113 per cent at CER to SEK 3,830 M (1,924) 

•         The adjusted EBITA margin1,2 was 43 per cent (30), excluding items affecting comparability (IAC)2. EBITA was SEK 2,923 M (1,443), corresponding to a margin of 42 per cent (28). EBIT was SEK 2,038 M (547)

•         Earnings per share (EPS) before dilution was SEK 4.27 (0.30). Adjusted EPS before dilution1 was SEK 4.36 (0.54). Cash flow from operating activities was SEK 1,201 M (1,058)

•         In August, Sobi and Apellis Pharmaceuticals announced positive topline results from the Phase 3 VALIANT study of pegcetacoplan in C3G and primary IC-MPGN

Outlook 2024 - Updated

•         Revenue is anticipated to grow by a mid-teens percentage at CER (previously low double-digit)

•         The adjusted EBITA margin is anticipated to be in the mid-30s percentage of revenue (unchanged)

 

1. Alternative Performance Measures (APMs).

2. Items affecting comparability (IAC).

* The strategic portfolio includes Sobi's medicines Altuvoct, Aspaveli/Empaveli, Doptelet, Gamifant®, Vonjo® and Zynlonta®, and royalty on Sanofi's sales of Altuviiio® and Beyfortus.

 

Investors, analysts, and the media are invited to a conference call on the same day at 14:00 CEST, 13:00 BST, and 08:00 EDT. The call will include a presentation of the results and a Q&A session.

 

The presentation can be followed live here or afterwards on sobi.com. The slides will be made available on sobi.com before 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 find the 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 1,800 employees across Europe, North America, the Middle East, Asia and Australia. In 2023, revenue amounted to SEK 22.1 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com and LinkedIn.

 

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. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CEST on 24 October 2024.

 

 

 

Gerard Tobin

Head of Investor Relations