Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q1 2019 Earnings Presentation
27 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Apr 25, 2019
Slide 1: Sobi Q1 results presentation
Sobi Q1 results presentation 25 April 2019
Slide 2: Forward looking statements
Forward looking statements In order to utilise the ‘Safe Harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995, Swedish Orphan Biovitrum AB (publ) is providing the following cautionary statement. This presentation contains forward-looking statements with respect to
Slide 3: Presenters
Guido Oelkers, CEO Presenters Henrik Stenqvist, CFO Milan Zdravkovic, Head of R&D and CMO 3
Slide 4: Highlights Q1 2019
Highlights Q1 2019 • Total revenues of SEK 3,265 M (1,964). 66 per cent revenue growth in the quarter compared with Q1 2018 (54 per cent at constant exchange rates (CER)) • Organic growth (adjusted for Synagis and measured at CER) amounted to 24 per cent compared with Q1 2018. • EBITA increased by 9
Slide 5: Revenues split by business area
Revenues split by business area Total revenues Q1 2019 SEK 3,265 M 433 Total revenues Q1 2018 SEK 1,964 M 1,100 445 297 87 % 1,730 1,222 77 % Q1 2018 Q1 2019 Haemophilia Immunology Specialty Care Haemophilia Immunology Specialty Care 5
Slide 6: Business review
Business review 6
Slide 7: Ethnographic study of lives of people living with haemophilia
In the summer of 2018, Sobi undertook a large-scale, pan- European ethnographic study of the lives of people living with haemophilia 7
Slide 8: Liberate Life concept empowers patients to take control of their life
Liberate Life concept is meant to empower patients to take control of their life – supported by their healthcare provider Possibility: • Be in charge of your life and your disease • Active life requires more than a through Foundation • Built on best in class EHL platform • Demonstrated in real world
Slide 9: Haemophilia - strong position with substantial potential
Haemophilia - strong position with substantial potential Exceptional momentum - Market leaders on several markets including more recently in the Nordics - Future growth driven by penetration and internationalisation Individualised therapy - Ensuring best outcome for patients Significant promise for
Slide 10: Elocta – individualising therapy gaining momentum
Elocta – individualising therapy gaining momentum Sales revenues (SEK M) • Q1 product revenues of SEK 991 M (649) 1 200 ▪ Revenue growth of 53 per cent (46 per cent at CER) ▪ Majority of the growth derived from France, Italy, 1 000 Germany and Spain. 800 600 • Reimbursed in 26 countries 400 200 0 Q1
Slide 11: Alprolix - continued impressive performance
Alprolix- continued impressive performance Sales revenues (SEK M) • Q1 product revenues of SEK 337 M (153) 400 ▪ Revenue growth of 120 per cent (110 per cent at 350 CER) 300 ▪ Majority of the growth derived from France, UK and Italy 250 200 150 • Reimbursed in 22 countries 100 50 0 Q1 Q2 Q3 Q4 Q1 Q2
Slide 12: Excellent protection in haemophilia A with individualised Elocta prophylaxis
Excellent protection in haemophilia A - low long term bleeding rates with individualised Elocta® prophylaxis 5 • Annual Bleeding Rates Across Overall median ABR (IQR) 4 Adolescent and Adult Subjects Receiving Individualised Elocta® Prophylaxis (3-5 3 days interval) • Median overall ABRs remained low
Slide 13: Continuous improvement in joint health score after long-term Elocta prophylaxis
Continuous improvement in joint health score after long- term Elocta® prophylaxis • Assessed using modified Haemophilia Joint Health Score in Adolescents and Adults • Benefits were seen despite pre-existing target joints and also in patients with severe arthropathy SEM • mHJHS components with the gr
Slide 14: Excellent protection in haemophilia B with Alprolix prophylaxis
Excellent protection in haemophilia B - low long term bleeding rates with Alprolix® prophylaxis 5 • Annual Bleeding Rates in Adolescent and Overall median ABR (IQR) 4 Adult Subjects Receiving Interval- Adjusted Alprolix® Prophylaxis (8-16 3 days) 2,1 2,0 2,1 (0.0–5.7) (1.0–4.0) (1.0–5.0) • Median ov
Slide 15: Driving growth in Immunology
Driving growth in Immunology Build upon a strong base - Kineret Expand the product platform and footprint Launch of a new promising monoclonal antibody - Gamifant Bolster pipeline Indication development for emapalumab and access to MEDI8897 Continuously reviewing opportunities for external growth 15
Slide 16: Immunology – first quarter with Synagis and Gamifant
Immunology – first quarter with Synagis and Gamifant Sales revenues (SEK M) • Revenues of SEK 1,100 M (297 M) 1 500 • Positive early experience of Gamifant launch with sales for the first quarter amounting to 89 1 200 MSEK, positively affected by initial stocking effects. 900 • The acquisition of Sy
Slide 17: Kineret – continued solid growth
Kineret – continued solid growth Sales revenues (SEK M) • Revenues of SEK 346 M (297 M) 400 1 600 ▪ increase of 17 per cent (7 per cent at CER) • Russian Kineret MAA (Market Authorisation 300 1 200 application) submitted in March 200 800 100 400 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2017 2018 2019 Quarterl
Slide 18: Synagis opportunity
Synagis opportunity • Sobi’s second largest product and a key priority • Underlying demand increasing (2%) • Ongoing activities to unlock meaningful value across the patient funnel - Increase no. of scripts within guidelines - Reduce leakages across the chain - Improve adherence • Current sales affe
Slide 19: Gamifant – commercial opportunity
Gamifant – commercial opportunity • Positive early experience of Gamifant launch in Q1 • Patients in 10 hospitals around the US • Ongoing launch activities: - disease awareness - product education - market access • In 2019 we are making investments into clinical activities: - primary HLH - secondary
Slide 20: Survival post-HSCT in patients treated with emapalumab
Survival post-HSCT in Patients Treated with emapalumab lends promise for pHLH and also for the graft failure study Patients who failed prior HLH All treated patients 1.0 conventional therapy 1.0 0.9 0.9 0.8 0.8 Survival Probability Survival Probability 0.7 0.7 0.6 0.6 0.5 pSu estimate at 12 months o
Slide 21: Financial results and summary
Financial results and summary 21
Slide 22: Q1 revenues walk
Q1 revenues walk Total revenues (SEK M) 3 500 158 3 265 89 -75 464 3 000 665 2 500 2 000 1 964 1 500 1 000 500 0 Q1 2018 Synagis Haemophilia Gamifant Other FX Q1 2019 22
Slide 23: Financial results
Financial results Total revenues (SEK M) 3 500 Q1 Q1 Full-year 3 000 Amounts in SEK M 2019 2018 Change 2018 2 500 Total revenues 3,265 1,964 66% 9,139 Gross profit 2,494 1,412 77% 6,723 2 000 Gross margin1 76% 72% 74% 1 500 EBITA adjusted1,2 1,471 771 91% 3,571 EBITA margin adjusted1,2 45% 39% 39% 1
Slide 24: Synagis seasonality 2019 – illustrative
Synagis seasonality 2019 – illustrative • Pronounced seasonal sales pattern • Relatively stable operational expenses • Drives negative off-season EBITA Q1 Q2 Q3 Q4 Sales EBITA 24
Slide 25: Outlook 2019 - unchanged
Outlook 20191,2 - unchanged • Sobi expects revenue for the full year to be in the range of SEK 12,500 - 13,000 M. • Main drivers of revenue growth are: continued market share growth of our haemophilia franchise with Elocta and Alprolix, the acquisition of Synagis and growth of this franchise in the
Slide 26: Q&A
Q&A 26
Slide 27: Sobi is a trademark of Swedish Orphan Biovitrum AB (publ)
Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © 2019 Swedish Orphan Biovitrum AB (publ) – All rights reserved Swedish Orphan Biovitrum AB (publ) SE-112 76 Stockholm • Sweden www.sobi.com
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