Sobi publishes its report for the first quarter 2016
(Thomson Reuters ONE) -
Swedish Orphan Biovitrum AB (publ) (Sobi(TM)) 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.
Business Summary Q1 2016
* Initiated commercial launch of Elocta® in the first European countries;
revenue in the quarter derived almost exclusively from Germany
* European Commission approved transfer of marketing authorisation for Elocta
to Sobi
* Sobi and Biogen received recommendation from CHMP that marketing
authorisation be granted for Alprolix® for the treatment of haemophilia B
* Received commercialisation rights to three products from PharmaSwiss
* European patent granted for Orfadin oral suspension
* Initiated clinical pipeline programmes for acute gout and Still's disease,
and a patent granted for a new formulation of Kineret
Financial Summary Q1 2016 (Q1 2015)
* Total revenue was SEK 1,273 M (865), an increase of 47 per cent (48 per cent
at CER)
* Product revenue was SEK 1,108 M (632), an increase of 75 per cent (76 per
cent at CER)
* Revenues include a one-time credit from Biogen of SEK 322 M triggered by the
first commercial sales of Elocta
* Gross margin was 74 per cent (60)
* EBITA was SEK 502 M (172)
* Earning per share 1.13 SEK (0.28)
"2016 is off to a strong start with excellent financial results, new products
added to our Partner Products portfolio, development of two new programmes for
Kineret, the launch of Elocta in Europe, and positive opinions regarding
Alprolix from the CHMP recommending that marketing authorisation be granted, and
from the COMP recommending that the orphan designation be maintained," said
Geoffrey McDonough, CEO and Pesident at Sobi. "In January we began the launch of
Elocta in the first European countries, enabling people with haemophilia A in
the region access to the first extended half-life factor treatment. Revenue from
the quarter derives almost exclusively from Germany, the only market in the EU
where pharmaceuticals are immediately reimbursed upon EU approval. We received
positive reimbursement decisions late in the quarter in both the Netherlands and
Ireland, and continue to advance discussions in Denmark, Sweden and the UK."
Financial Summary
Q1 Q1 Full year
Amounts in SEK M 2016 2015 Change 2015
---------------------------------------------------------
Total revenues(1) 1,273 865 47% 3,228
Gross profit 944 519 82% 2,007
Gross margin 74% 60% 62%
EBITA 502 172 >100% 433
EBIT (Operating profit/loss) 410 102 >100% 146
Profit/loss for the period 301 75 >100% 68
(1 )Q1 2016 revenues include a one time credit of SEK 322 M relating to first
commercial sales of Elocta.
Outlook 2016 unchanged
Sobi continues to expect total revenue for the full year to be in the range of
SEK 4,800 to 5,000 M. Revenue will include one-time credits for Elocta of SEK
300 to 325 M and for Alprolix of SEK 300 to 325 M, which will not impact cash.
Gross margin is expected be in the range of 68 to 70 per cent.
Sobi will continue to invest in the launches of Elocta and Alprolix, and will
also take on incremental costs of SEK 250 - 300 M reflecting its 50 per cent
share of Biogen's ongoing development costs for the products. Sobi will assume
these costs when it becomes marketing authorisation holder for Elocta, which
occurred 24 March 2016; and for Alprolix expected in the second half of the
year. These incremental costs are included in this outlook.
Sobi expects EBITA for the full year to be in the range of SEK 1,200 to 1,300 M.
---
Sobi's report for the first quarter 2016 can be found on
http://www.sobi.com/Investors--Media/Reports/.
About Sobi(TM)
Sobi(TM) is an international speciality 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 speciality and rare disease products across Europe, the Middle
East, North Africa and Russia for partner companies. Sobi is a pioneer in
biotechnology with world-class capabilities in protein biochemistry and
biologics manufacturing. In 2015, Sobi had total revenues of SEK 3.2 billion
(USD 385 M) and approximately 700 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
+46 70 410 71 80 +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 27 April 2016.
Sobi_Report_2016_Q1_ENG:
http://hugin.info/134557/R/2007084/741767.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#2007084]
Unternehmensinformation / Kurzprofil:
Datum: 27.04.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 466748
Anzahl Zeichen: 6636
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 217 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Sobi publishes its report for the first quarter 2016"
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).
