Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q2 2020 Earnings Presentation
30 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Jul 16, 2020
Slide 1: Q2 2020 results
Q2 2020 results rare strength © July 16, 2020
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: Preamble – significant progress in a difficult environment
Preamble – significant progress in a difficult environment Drivers facing the industry ex. US Sobi’s milestones in this environment (IQVIA 10 July, US Market): 1 • Half year top line growth: 20 per cent (17% at CER) COVID affecting the pharmaceutical market: 2 • Half year adjusted EBITA growth: 20 p
Slide 5: Q2 2020: A robust quarter in challenging times
Q2 2020: A robust quarter in challenging times Q2 2020 sales SEK M • Continued share gains of franchise; stocking effects from Q1 and decline in Haemophilia portfolio 1,4031 consumption/patient due to COVID-19 have impacted QoQ sales growth ~4% patient growth QoQ Haematology (see slide 6); patient g
Slide 6: Q2/H1 2020 Group sales: Strong H1 despite COVID-19 impact on Q2
Q2/H1 2020 Group sales: Strong H1 despite COVID-19 impact on Q2 Q2 sales breakdown over last three years H1 sales breakdown over last three years SEK M; Growth at CER +17% Specialty Care 7,709 +42% Immunology 764 6,427 Haematology 873 2 514 -4% 4,253 1 873 Growth +32% 3,163 3,070 901 for core: 2,289
Slide 7: Q2 2020: Haemophilia - positive patient growth continues
Q2 2020: Haemophilia - positive patient growth continues Q2 revenue development/bridge 1 COVID-19 impacts YoY Growth1: Q2 2020 vs. PY • Q2 sales impact driven by inventory de-stocking at wholesalers following SEK M extraordinary stocking in Q1 and lower patient consumption • Temporary lower consumpt
Slide 8: SEL-212: Partnering towards further innovation in Immunology
SEL-2121: Partnering towards further innovation in Immunology • Worldwide strategic license for SEL-212, Phase 3 ready novel Develop treatment for Chronic Refractory Gout, a debilitating condition Immunology for patients SEL-212 Expand • SEL-212 consists of Selecta’s innovative targeted therapy ImmT
Slide 9: Q2 2020: Significant progress in challenging times
Q2 2020: Significant progress in challenging times • Haemophilia Haematology - Continuous strong patient growth QoQ despite lack of face to face interactions • Doptelet - Strong quarter on quarter growth and on a good trajectory despite no F2F interactions - CIT: Enrolment completed, read out in Q4
Slide 10: Business Review Haematology
Business Review Haematology 10
Slide 11: Haemophilia: Continued double-digit growth in H1
Haemophilia: Continued double-digit growth in H1 Elocta Alprolix H1 development • Elocta half-year sales amounted to SEK 2,399 M Sales (SEK M) Sales (SEK M) (2,118), up 13 per cent (11 per cent at CER) 3 000 6 000 1 000 2 000 • Alprolix half-year sales were SEK 851 M (718), up 18 per cent (17 per ce
Slide 12: Doptelet: Strong underlying demand
Doptelet: Strong underlying demand 60,0 • Doptelet revenue reached +43% SEK 186 M for the quarter. 50,0 - Includes a milestone revenue related to the approval of the CLD indication in China of 000 tablets shipped +39% 40,0 SEK 87 M 30,0 • Recruitment of CIT study completed in Q2 20,0 • Doptelet half
Slide 13: Business Review Immunology
Business Review Immunology 13
Slide 14: Immunology: Strong H1 growth +30%
Immunology: Strong H1 growth +30% Sales (SEK M) • Immunology revenue for the quarter was SEK 714 M (773) a decrease of 2 500 8 percent (-10 per cent at CER) - Gamifant sales for the quarter amounted to SEK 132 M (205) a decrease 2 000 by 36 per cent (-38 per cent at CER) • The average weight of pati
Slide 15: Gamifant – acceleration of patient uptake in Q1 and Q2
Gamifant – acceleration of patient uptake in Q1 and Q2 Cumulative patients, Q1 2019-Q2 2020 acceleration of patient growth QoQ in 2020 Gamifant performance Progress of patient uptake Financial impact not as favourable yet due to • lower price in 2020 • lower consumption by patient – mainly due to lo
Slide 16: Kineret: Continued strong growth
Kineret: Continued strong growth Sales (SEK M) • Kineret sales for the quarter were SEK 530 M (419), an 600 2 400 increase of 26 per cent (24 per cent at CER) 500 2 000 • Half-year sales were SEK 1,030 M (765), an increase of 35 per cent (31 per cent at CER) driven by higher demand 400 1 600 • Kiner
Slide 17: Increasing evidence of anakinra's utility in severe forms of COVID-19
Increasing evidence of anakinra’s utility in severe forms of COVID-19 – ex. a cohort study: Huet et al. 2020 Significant interest for anakinra related to COVID-19: Death or invasive mechanical ventilation1 approximately 2,500 patients in on-going clinical studies Anakinra2 has shown strong clinical
Slide 18: Growing evidence regarding anakinra
Growing evidence regarding anakinra – Cumulative survival was higher in patients with COVID-19 at 21 days, with high dose intravenous anakinra1 Cumulative survival (Day 21) • High dose anakinra 5 mg/kg (IV) BID: 100% 90% p=0.009 - was associated with prompt reductions in 80% serum CRP 70% 60% - damp
Slide 19: SEL-212 for the potential treatment of refractory gout
SEL-2121 for the potential treatment of refractory gout • Gout is an inflammatory arthritis caused by Chronic Gout can lead to complications hyperuricemia and deposition of monosodium urate including: (MSU) crystals in synovial fluid and other tissues • Chronic pain • People with chronic gout have f
Slide 20: SEL-212 shows encouraging phase 2 data supporting efficacy
SEL-2121 shows encouraging phase 2 data supporting efficacy and reduction of infusion related reactions *Week 20 Evaluable patients = patients who received a full first dose and did not discontinue due to any measure other than drug effectiveness or drug related safety; Selecta Corporate Presentatio
Slide 21: Further clinical Ph2 and Ph3 data being generated
Further clinical Ph2 and Ph3 data being generated Selecta Corporate Presentation June 2020 (http://ir.selectabio.com/static-files/94be5462-b385-454b-8454-84d619cce139) The transaction is subject to clearance under the Hart-Scott Rodino Antitrust Improvements Act and other customary closing condition
Slide 22: Committed to building a sustainable R&D platform
Committed to building a sustainable R&D platform Phase 1 Phase 2 Phase 3 Registration NI-1701 Gamifant/emapalumab BIVV001/ Gamifant/emapalumab Anti-CD47/CD191 Secondary HLH/MAS rFVIIIFc-vWF-XTEN2 Primary HLH (EU) B cell lymphoma children Haemophilia A SUBMITTED 2020 will continue to provide opportun
Slide 23: Q2 2020 Financial results
Q2 2020 Financial results 23
Slide 24: Q2 2020: Financial results
Q2 2020: Financial results Total revenue (SEK M) Q2 Q2 H1 H1 Full-year Specialty Care Amounts in SEK M 2020 2019 Change 2020 2019 Change 2019 Immunology Total revenue 3,070 3,163 -3% 7,709 6,427 20% 14,248 Haematology 4,890 Gross profit 2,381 2,413 -1% 5,979 4,907 22% 10,913 4,639 Gross margin1 78%
Slide 25: Continued strong operating cash flows in H1 2020, leverage < 2.0x
Continued strong operating cash flows in H1 2020, leverage < 2.0x Net Debt (SEK M) Q2 2020 update 16 000 -3.6B • Operating cash flows of 1.9B SEK 12 000 • Net Debt reduction of -2.4B • Leverage < 2.0x 8 000 • Available liquidity of ~7B SEK 4 000 0 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Acqu
Slide 26: Q1 summary
Q1 summary 26
Slide 27: Q2 2020: Further advancing market position organically and through acquisitions
Q2 2020: Further advancing market position organically and through acquisitions Strategic actions • Florio, our digital solution for Haemophilia patients to live a life with fewer Florio launch Haematology compromises -- Liberate life available in 17 countries Establishing leadership • CIT: Enrolmen
Slide 28: Financial outlook 2020 – unchanged
Financial outlook 20201,2 – unchanged Revenue for 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 developme
Slide 29: Q&A
Q&A 29
Slide 30: Sobi is a trademark of Swedish Orphan Biovitrum AB (publ)
Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © 2020 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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