Swedish Orphan Biovitrum AB (publ) (http://www.sobi.com/) (Sobi™)
today
announces its results for the second quarter 2020. Total revenue for the
second
quarter 2020 was SEK 3,070 M and EBITA was SEK 1,018 M.


April—June

 
· Total revenue of SEK 3,070 M (3,163), down 3 per cent (-4 per cent
at
constant exchange rates (CER))
  · Adjusted EBITA[1,2]  was SEK 1,018 M
(1,193), with an EBITA margin[1] of 33
per cent (33)
  · Earnings per share
(EPS) of SEK 0.96 (1.70) and adjusted EPS[1,2,3] of 0.96
SEK (2.12)
  · Net
debt[1] of SEK 11,802 M at 30 June 2020 (15,404 at 31 Dec 2019)
  · Sales for
Elocta® were SEK 1,040 M (1,127) and sales for Alprolix® were SEK
363 M (382)
 
· Continued strong performance for Kineret® with sales amounting to SEK 530
M
(419), an increase of 24 per cent at CER
  · Sales of Gamifant® were SEK 132
M (205)
  · Cash flow from operations of SEK 1,911 M (1,275)
  · Strategic
licensing agreement with Selecta Biosciences for the product
candidate SEL-212
for the potential treatment of chronic refractory gout[4]
  · Outlook 2020
unchanged

January–June

  · Total revenue of SEK 7,709 M (6,427), 20 per cent
revenue growth (17 per
cent at CER)
  · Adjusted EBITA[1,2] was SEK 3,191 M
(2,665), an increase of 20 per cent,
with an EBITA margin[1]
of 41 per cent
(41)
  · EPS of SEK 4.98 (4.82) and adjusted EPS[1,2,3] of SEK 4.98 (5.14)
  ·
Net debt[1] of SEK 11,802 M at 30 June 2020 (15,404 at 31 Dec 2019)
  · Elocta
sales were SEK 2,399 M (2,118) and Alprolix sales were SEK 851 M
(718)
  ·
Kineret sales amounted to SEK 1,030 M (765)
  · Gamifant sales amounted to SEK
236 M (294)
  · Cash flow from operations of SEK 3,912 M (1,663)

Guido
Oelkers, CEO and President:
“During the quarter we continued to deliver on our
strategy with the strategic
licensing agreement with Selecta[4] for the product
candidate SEL-212 for the
treatment of chronic refractory gout, an important
milestone as it further
strengthens our Immunology portfolio and our late-stage
pipeline. The COVID-19
pandemic has continued to pose challenges for the whole
world and has of course
had implications for Sobi as well. However, we have
made significant efforts and
have made strategic progress in this difficult
environment: 27 per cent QoQ
growth for Gamifant, 52 per cent QoQ growth for
Doptelet in the US market, close
to 4 per cent patient growth for the
Haemophilia portfolio and a strong Kineret
performance, all despite the lack of
face-to-face interactions with customers.
The performance in the quarter was
impacted by regional lockdowns but positive
signs of a return to normality were
seen in June.”


[][][][][][][][][][]
Financial Summary       Q2     Q2        
    H1     H1            Full
                                                 
                -year
Amounts in SEK M      2020   2019  Change   2020   2019 
Change    2019
Total revenue        3,070  3,163     -3%  7,709  6,427     20% 
14,248
Gross profit         2,381  2,413     -1%  5,979  4,907     22% 
10,913
Gross margin[1]        78%    76%            78%    76%            
77%
EBITA[1]             1,018  1,037     -2%  3,191  2,546     25%  
5,933
EBITA adjusted[1,2]  1,018  1,193    -15%  3,191  2,665     20%  
6,145
EBITA margin[1]        33%    33%            41%    40%            
42%
EBITA margin           33%    38%            41%    41%            
43%
adjusted[1,2]
Profit for the         283    499    -43%  1,465  1,402     
4%   3,304
period
Earnings per share,   0.96   1.70    -43%   4.98   4.82     
3%   11.29
SEK
Earnings per share,   0.96   2.12    -55%   4.98   5.14     -3% 
 11.89
SEK adjusted[1,2,3]

[1]Alternative
Performance
Measures
(APMs).
[2]EBITA Q2 and
Full-year 2019
excluding non
-recurring
items;
transaction costs
related to the
acquisition of Dova
in Q4 of SEK 92
M,
restructuring costs
of SEK 157 M in Q2
2019 and gain from
divestment
of
SOBI005 in Q1 2019
of SEK 37 M.
[3]EPS Q2 and Full
-year
2019
excluding
impairment of
intangible assets
of SEK 18 M related
to
restructuring in
Q2 2019.
[4]The transaction
is subject to
clearance under
the
Hart-Scott Rodino
Antitrust
Improvements Act
and other customary
closing
conditions.


Financial outlook 2020[1,2] – unchanged
Revenue for the full-year
2020 is expected to be in the range of SEK
15,000—16,000 M reflecting
double-digit growth in each of the two core
businesses, Haematology and
Immunology.


EBITA is expected to be in the range of SEK 5,500—6,300 M,
including the
development and launch of Doptelet which will affect EBITA
negatively by around
SEK 500 M in 2020.

[1]At exchange rates as of 13 February
2020.
[2]Financial outlook excludes any impact from the potential acquisition
of
Selecta Biosciences, Inc. announced on 11 June 2020; in the event of
completion
of the transaction, R&D expenses are expected to increase by up to
SEK 150 M in
H2 2020
Telephone conference:
Financial analysts and media are
invited to participate in a telephone
conference, which will include a
presentation of the Q2 results, today at 13:00
am CET. The event will be hosted
by Sobi’s CEO and President, Guido Oelkers, and
the presentation will be held
in English.

The presentation can be followed live, or afterwards on
www.sobi.com. Slides
used in the presentation will be made available on Sobi’s
website prior to the
telephone conference.

To participate in the telephone
conference, please call:

SE: +46 8 505 583 54
UK: +44 333 300 9274
US:
+1 646 722 4903
Click here to go to the
     live
webcast. (https://onlinexperiences.com/Launch/QReg/ShowUUID=FC0AA35D-4B85-4
     A24
-A81A-893BDE93B0CF)

After
the live event the webcast will be available on-demand via the same link.
About
Sobi™
Sobi is a specialised international biopharmaceutical company
transforming the
lives of people with rare diseases. Sobi is providing
sustainable access to
innovative therapies in the areas of haematology,
immunology and specialty
indications. Today, Sobi employs approximately 1,400
people across Europe, North
America, the Middle East, Russia and North Africa.
In 2019, Sobi’s revenues
amounted to SEK 14.2 billion. Sobi’s share (STO:SOBI)
is listed on Nasdaq
Stockholm. You can find more information about Sobi at
www.sobi.com.


For more information please contact

Paula Treutiger, Head of
Communication & Investor Relations
+ 46 733
666 599
paula.treutiger@sobi.com

Linda Holmström, Corporate Communication &
Investor Relations
+ 46 708 734 095
linda.holmstrom@sobi.com

This information
is information that Swedish Orphan Biovitrum AB (publ) is
obliged to make
public pursuant to the EU Market Abuse Regulation and the
Securities Markets
Act. The information was submitted for publication, through
the agency of Linda
Holmström, Corporate Communication and Investor Relations,
at 08:00 CET on 16
July 2020.

Swedish Orphan Biovitrum AB (publ)
Postal address SE-112 76
Stockholm, Sweden
Phone: 46 8 697 20 00     www.sobi.com