Sobi publishes its Report for the Second Quarter 2015 - raises guidance
(Thomson Reuters ONE) -
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 per cent 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(TM) (rFVIIIFc) in Switzerland
Financial Summary Q2 2015 (Q2 2014)
* Total revenue was SEK 764 M (663), an increase of 15 per cent (4 per cent at
CER)
* Product revenue was SEK 593 M (476), an increase of 25 per cent (12 per cent
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 - rasied 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%
EBITA(1) 74 86 -14% 247 -202 >100% -43
EBITA excluding write- 74 86 -14% 247 123 100% 307
offs
EBIT (Operating 3 16 -83% 105 -342 >100% -325
profit/loss)
Profit/loss for the 9 26 -66% 115 -303 >100% -268
period
-------------------------------------------------------------------------------
(1 )H1 2014 includes write-offs relating to
Kiobrina of SEK 325 M in Q1
---
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 Investor relations
Oskar Bosson, Head of Jörgen Winroth, Vice President, Head of Investor
Communications Relations
T: +46 70 410 71 80 T: +1 347-224-0819, +1 212-579-0506, +46 8 697 2135
oskar.bosson(at)sobi.com jorgen.winroth(at)sobi.com
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.
--------------------------------------------------------------------------------
[1] The original outlook presented on 19 February 2015 stated that "Sobi expects
EBITA to be in line with the adjusted 2014 level".
Sobi_Q2_Report_2015_ENG:
http://hugin.info/134557/R/1939169/699471.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Swedish Orphan Biovitrum AB (publ) via GlobeNewswire
[HUG#1939169]
Unternehmensinformation / Kurzprofil:
Datum: 16.07.2015 - 08:01 Uhr
Sprache: Deutsch
News-ID 407223
Anzahl Zeichen: 5953
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 141 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Sobi publishes its Report for the Second Quarter 2015 - raises guidance"
steht unter der journalistisch-redaktionellen Verantwortung von
Swedish Orphan Biovitrum AB (publ) (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
