Presentation

Company Profile
Sobi is a leading integrated biopharmaceutical company providing therapies and services for patients with rare diseases. The firm's core products include the Immunology therapeutics (Gamifant, Kineret and Synagis) and the core Haematology products Elocta and Alprolix indicated for haemophilia A/B. The company was founded in 2001 and is headquartered in Stockholm, Sweden.

Recent highlights
Q2 total revenues amounted to SEK 3,211m (3,070m), up 5% y/y and 14% at constant exchange rates (CER). Elocta showed a slight increase in sales at CER for the first time in several quarters. Haematology grew 12% and Immunology 17% at CER. Adjusted EBITA amounted to SEK 922m (1,018m), corresponding to a margin of 29% (33%). In July, Kineret was submitted to EMA with a proposed indication for the treatment of Covid-19 in adult patients with pneumonia who are at risk of developing severe respiratory failure.

Outlook
The financial outlook for 2021 remained unchanged in the Q2 report. Revenues for the full year are expected to be in the range of SEK 14-15bn, reflecting a flattish to slight decline in growth vs 2020. EBITA margin is expected to be in the range of 30-35 per cent of revenue, a sharp decline vs 2020 due to increased investment in clinical trials and expanding commercial operations. Long term, Sobi is well on track to build a sizeable global orphan drug specialist company.