Swedish Orphan Biovitrum AB · OMXSTO:SOBI

Swedish Orphan Biovitrum AB — Q4 2009 Earnings Presentation

12 slides from Swedish Orphan Biovitrum AB's earnings presentation, Feb 18, 2010

  1. Slide 1: Fourth Quarter and Full Year Results 2009

    Fourth Quarter and Full Year Results 2009 2010-02-18

  2. Slide 2: FY 2009 – Strong revenue growth and profit turn around

    FY 2009 – Strong revenue growth and profit turn around • Total revenues were SEK 1,297 M (incl. upfront payment from AstraZeneca) • Revenues before license revenues up 22% to SEK 1,234.4 M (1,008.1) – Driven mainly by Kineret® and Kepivance® • EBITA of SEK 68 M (-34.1) • Profit for the period SEK 32

  3. Slide 3: Q4 2009 – Key product sales drive growth

    Q4 2009 – Key product sales drive growth • Total revenues up 11 % to SEK 347.7 M (314.3) • Kineret® and Kepivance® sales highest since acquisition: SEK 147.2 M • ReFacto® co-promotion revenues up 25% to SEK 23.1 (18.5) • EBITA of SEK 64.9 M (-62.4) • Profit for the period SEK 31.5 M (-246.6). – Corr

  4. Slide 4: Q4 2009 - Positive clinical program progression

    Q4 2009 - Positive clinical program progression • Positive long-acting rFIXFc phase I/II hemophilia B study data – Well tolerated and demonstrated prolonged half-life in previously treated severe hemophilia B patients • Decision to advance rFIXFc into registrational program – a Biovitrum milestone a

  5. Slide 5: Key figures Q4 and FY 2009

    Key figures Q4 and FY 2009 Oct 1 - Dec 31 Full year Full year Amounts in SEK million 2009 2008 2009 2008 Total revenues before license revenues 285,1 314,3 1 234,4 1 008,1 + 22% Total revenues 347,7 314,3 1 297,0 1 140,6 Gross profit 255,0 231,2 921,3 875,9 Operating profit/loss before restructuring

  6. Slide 6: Kineret Q4 2009 sales the highest since the acquisition

    Kineret Q4 2009 sales the highest since the acquisition Oct 1 - Dec 31 Full year Full year Amounts in SEK million 2009 2008 2009 2008 Kineret® 1) 120.9 25.8 440.7 25.8 1) Kepivance® 26.3 5.7 109.9 5.7 Aloxi® 2.3 1.0 9.4 5.3 Stemgen® 0.4 0.6 3.4 0.6 Novastan® 0.9 0.4 1.3 0.8 Total revenues 150.9 33.5

  7. Slide 7: ReFacto manufacturing revenues are in transition due to ReFacto AF/Xyntha switch

    ReFacto® manufacturing revenues are in transition due to ReFacto AF® /Xyntha® switch Oct 1 - Dec 31 Full year Full year Amounts in SEK million 2009 2008 2009 2008 ReFacto 67.6 186.4 362.5 569.3 of which validation batches – 47.0 – 47.0 Contract development 1.2 11.6 14.1 49.7 Total 68.7 198.0 376.5 6

  8. Slide 8: Co-promotion revenues (excluding Kineret) increased in Q4 and FY 2009

    Co-promotion revenues (excluding Kineret) increased in Q4 and FY 2009 Oct 1 - Dec 31 Full year Full year Amounts in SEK million 2009 2008 2009 2008 ReFacto® 23.1 18.5 89.7 80.2 BeneFIX® 3.6 2.2 11.2 10.4 Mimpara® 7.1 5.6 26.2 22.7 Kineret® 0.2 15.0 0.2 61.2 Kepivance® 0.0 – 0.0 0.2 Other -0.4 – – –

  9. Slide 9: Successful divestment and out-licensing of non-core R&D activities

    Successful divestment and out-licensing of non-core R&D activities • Divestment of Cambridge Biotechnology Ltd to Proximagen Neuroscience plc. – Deal structure contains future revenue sharing – Proximagen will own certain small molecule projects and associated IP and other assets: • The 5-HT2C agoni

  10. Slide 10: New deals strengthening future business

    New deals strengthening future business • Acquisition of Swedish Orphan International • rFVIIIFc and rFIXFc collaboration agreement with Biogen Idec restructured – Biogen Idec assumes development responsibilities and costs as well as manufacturing rights – Biogen Idec gains marketing responsibility

  11. Slide 11: FY 2009 - Swedish Orphan Biovitrum pro forma financial statement

    FY 2009 - Swedish Orphan Biovitrum pro forma financial statement Swedish Pro forma Swedish Orphan adjust- Orphan Amounts in SEK million Biovitrum Intl. ments Biovitrum Total revenues 1,297.0 768.6 – 2,065.6 EBITDA 125.9 218.2 – 344.2 EBITDA margin 10% 28% 17% Depreciations -57.9 -2.5 – -60.4 EBITA 6

  12. Slide 12: Summary – Strong platform for profitable growth

    Summary – Strong platform for profitable growth • Financial results demonstrate strong revenue growth and profit turn around – 22% revenue growth – 15% R&D cost decrease – Core EPS of SEK 0.84 • Compelling platform for profitable growth by acquisition of Swedish Orphan International • Positive clini

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