Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q4 2024 Earnings Presentation
26 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Feb 5, 2025
Slide 1: Q4 and Full-year 2024 results
Q4 and Full-year 2024 results A solid ending to a strong year Conference call and webcast for investors and analysts 05 February 2025
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements with respect to certain of the Company’s current expectations and projections about future events. These statements, which sometimes use words such as “intend,” “proposed,” “plan,” “expect,” and words of similar
Slide 3: Conference call agenda
Conference call agenda Business update Guido Oelkers, Chief Executive Officer Financials Henrik Stenqvist, Chief Financial Officer R&D Pipeline Lydia Abad-Franch, Head of R&D and Chief Medical Officer Summary and Q&A 3
Slide 4: Strong performance of the portfolio driving growth
Strong performance of the portfolio driving growth Positive progress in regulatory and early commercial stage Top line growth of 19% in 2024 Revenue Q4: SEK 7,436 M, +8%. FY 2024: 26,027 M +19% Adjusted EBITA margin Q4: 34%, Adjusted FY 2024: 36% Strategic portfolio1 grew 50% in Q4 • Beyfortus® roya
Slide 5: Strong business growth at CER of 19% in 2024
Strong business growth at CER of 19% in 2024 Driven by existing and launch medicines and continued growth geographically Revenue by segment Revenue by region Q4 2024 change FY 2024 change contrib. FY 2024 change SEK M % SEK M % % SEK M % Haematology 4,487 +22 16,429 +24 63 Europe 9,690 +14 – Haemoph
Slide 6: Strong momentum across the portfolio in 2024
Strong momentum across the portfolio in 2024 Full Year 2024 Haematology • Haemophilia growing 11% Elocta 4 891 +1% Altuvoct 436 >200% • Doptelet: Continued strong demand across all markets Alprolix 2 372 +12% with 30% growth Altuviiio royalty 610 >200% Other Haem royalty 1 279 -10% • Aspaveli/Empave
Slide 7: Sobi's growth strategy supported by strong portfolio management
Sobi’s growth strategy supported by strong portfolio management Near-term Strategic Growth Portfolio Pipeline +48% in 2024 (34% of total revenue) • Aspaveli- C3G / IC-MPGN • Aspaveli (PNH) • Doptelet • NASP - CRG • Altuvoct • Gamifant • Gamifant - HLH/MAS • Vonjo • Zynlonta Foundation Products +6% i
Slide 8: Altuvoct: Successful first EU launch; rapid adoption in Germany
Altuvoct: Successful first EU launch; rapid adoption in Germany >15% points Haemophilia A market share gain in Germany since launch Haemophilia A sales SEK 1,440 M +9% Q4 Altuvoct Launch: • Rapid patient adoption; Fourth quarter 2024 sales of SEK 302M • Patients transitioning from Elocta and increas
Slide 9: Aspaveli: Best-in-class Phase 3 efficacy data supports global submissions
Aspaveli: Best-in-class Phase 3 efficacy data supports global regulatory submissions in 2025 Aspaveli/Empaveli SEK 269 M +44% Q4 PNH • Robust growth across markets, FY 2024 SEK 1,030 M, growth 76% at CER • Perseverance in markets with new competition Nephrology*: Filed in beginning of February in EU
Slide 10: Vonjo: Showing continued growth momentum
Vonjo: Showing continued growth momentum Vonjo SEK 416 M +27% Q4 • Performance improving: 6% quarter on quarter growth (SEK 1,462 M FY) • Committed to unlock Vonjo’s potential: I. Expand myelofibrosis treatment in line with NCCN guidelines* II. Launch in International markets • Additional markets to
Slide 11: Agenda
Agenda Business update Guido Oelkers, Chief Executive Officer Financials Henrik Stenqvist, Chief Financial Officer R&D Pipeline Lydia Abad-Franch, Head of R&D and Chief Medical Officer Summary and Q&A 11
Slide 12: Q4 2024 Revenue and profit & loss
Q4 2024 Revenue and profit & loss Q4 Q4 Full-year Total revenue (SEK M) Amounts in SEK M 2024 2023 Change 2024 Total revenue 7,436 6,844 9% 26,027 Haematology Immunology Specialty Care Adjusted Gross profit 1,2 5,821 5,478 6% 20,326 7 436 6 844 6 894 385 Adjusted Gross margin 1,2 78% 80% 78% 298 6 2
Slide 13: Net debt development and continued strong cash flow
Net debt development and continued strong cash flow Net Debt (M SEK) Net Debt Waterfall Sep ’24 to Dec ’24 (M SEK) 30 000 3,0 16,880 25 000 2,5 2,3 1,9 1,8 20 000 1,6 2,0 19 265 18 375 15 000 16 880 1,0 16 028 15 194 10 000 0,0 5 000 -1,0 101 9 15,194 -1,797 0 -2,0 Dec '23 Mar '24 Jun '24 Sept '24 D
Slide 14: Sobi Outlook 2025
Sobi Outlook 2025 Key considerations for 2025 2025 outlook • Altuvoct launch progress Revenue • Continued progress with commercial portfolio Anticipated to grow by a high-single • Beyfortus royalty digit percentage at CER • Launch preparation • In US for NASP in CRG • In Europe for Aspaveli in nephr
Slide 15: Agenda
Agenda Business update Guido Oelkers, Chief Executive Officer Financials Henrik Stenqvist, Chief Financial Officer R&D Pipeline Lydia Abad-Franch, Head of R&D and Chief Medical Officer Summary and Q&A 15
Slide 16: Solid pipeline progress in Q4
Solid pipeline progress in Q4 Aspaveli/Empaveli Gamifant C3G and IC-MPGN HLH/MAS in Still’s disease VALIANT data at ASN Kidney Week FDA application submitted EMA application submitted* Vonjo Zynlonta VEXAS DLBCL FDA granted IND LOTIS-5 fully recruited *Submitted in February 2025 C3G and IC-MPGN: Com
Slide 17: Emapalumab: sBLA filed for HLH/MAS in Still's disease
Emapalumab: sBLA filed for HLH/MAS in Still’s disease HLH/MAS is a rare, potentially fatal hyperinflammation Clinical data shows that emapalumab controlled syndrome with no approved therapy1 signs and symptoms of HLH/MAS4,5 Median time to achieve an overall response Glucocorticoids Limited long-term
Slide 18: Pacritinib: PAXIS - first randomised study for VEXAS
Pacritinib: PAXIS - first randomised study for VEXAS VEXAS is a chronic haemato-inflammatory syndrome1-6 PAXIS will assess the safety and efficacy of pacritinib in patients with VEXAS syndrome Affecting multiple organs with no standard treatment or approved therapies1,3 Phase 2 Study with 78 patient
Slide 19: Pipeline success in 2024
Pipeline success in 2024 Haemophilia-A: Altuvoct EU approval Aspaveli/ C3G and IC-MPGN: C3G and IC-MPGN: PNH: Empaveli Positive VALIANT phase 3 data Submission to EMA* First-line approval in EU VEXAS: Vonjo IND granted by FDA ITP: Paediatric extension Doptelet submitted to FDA ITP: submitted in Japa
Slide 20: ...to be continued in 2025
…to be continued in 2025 Anticipated major pipeline news flow Aspaveli NASP (SEL-212) Gamifant CHMP opinion Finalising US FDA decision Japan submission submission 2025 H1 2025 H2 Aspaveli – C3G & IC-MPGN: Gamifant – HLH / MAS in Still’s disease: o Regulatory submission in Japan o US regulatory decis
Slide 21: Agenda
Agenda Business update Guido Oelkers, Chief Executive Officer Financials Henrik Stenqvist, Chief Financial Officer R&D Pipeline Lydia Abad-Franch, Head of R&D and Chief Medical Officer Summary and Q&A 21
Slide 22: Summary: Growth and pipeline progress
Summary: Growth and pipeline progress % growth at CER Revenue : Q4 2024 - SEK 7,436 M, +8% Significant growth Third consecutive year as FY 2024 – SEK 26,027 M, +19% member of DJSI Europe Doptelet SEK 1,147 M, +56% Altuvoct SEK 302 M Strategic portfolio Aspaveli/Empaveli SEK 269 M, +44% contributing
Slide 23: Q&A
Q&A 23
Slide 24: Current development pipeline
Current development pipeline Major ongoing clinical studies and medicines in registration in a major region or country Pipeline news flow 2025 H1 Aspaveli / Empaveli – Nephrology: • Japan submission NASP (formerly SEL-212) – Chronic Refractory Gout: • Finalising regulatory submission in the US 20
Slide 25: Appendix: Q4 2024 sustainability performance
Appendix: Q4 2024 sustainability performance Highlights in Q4 2024 Sobi sustainability priorities Highlights in Q4 2024 • Milestones toward increased access Maintain commitment to Always act responsibly • Caring for employees - New analyses connected to several patients - Celebrated global diversity
Slide 26: Thank you
CONFIDENTIAL – FOR INTERNAL USE ONLY Thank you Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © 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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