Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q4 2018 Earnings Presentation
24 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Feb 20, 2019
Slide 1: Sobi Q4/FY 2018 report presentation
Sobi Q4/FY 2018 report presentation 20 February 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
Gudio Oelkers, CEO Presenters Henrik Stenqvist, CFO Milan Zdravkovic, Head of R&D and CMO 3
Slide 4: Highlights Q4 2018
Highlights Q4 2018 • Total revenues of SEK 2,571 M (1,875) in Q4 and SEK 9,139 M (6,511) for the full year • 37 per cent sales growth in the quarter compared with Q4 2017 (29 per cent at CER) • EBITA increased 48 per cent to SEK 916 M (619) in Q4 and 74 per cent to SEK 3,571 M (2,053) full-year • Ea
Slide 5: Business review
Business review 5
Slide 6: Elocta and Alprolix – liberates life for people with haemophilia
Elocta and Alprolix – liberates life for people with haemophilia • Well established safety and efficacy profiles - real-world experience from thousands of patients • Replacing the missing factor – fundamental in haemophilia treatment • Standard of care in many countries • Suitability for all patient
Slide 7: Haemophilia - strong position with substantial potential
Haemophilia - strong position with substantial potential Exceptional momentum - Recognition of therapeutic benefit more than doubled business - Future growth driven by penetration and internationalisation Individualised therapy - Ensuring best outcome for patients Significant promise for the future
Slide 8: Exceptional momentum - strong sales growth in Q4
Exceptional momentum - strong sales growth in Q4 Elocta revenues (SEK M) Alprolix revenues (SEK M) 1 000 350 900 300 800 250 700 600 200 500 150 400 300 100 200 50 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2018 2016 2017 2018 Quarterly Quarterly • Q4 p
Slide 9: Individualising therapy improves patient outcome
Individualising therapy improves patient outcome Elocta Alprolix Median ABR (IQR) IP OD Median ABR (IQR) OD (n=15) IP (n=31) (n=110) (n=13) IP: Individualised prophylaxis; IQR: Interquartile range; OD: On-demand treatment IP: Interval-adjusted prophylaxis; IQR: Interquartile range; OD: On-demand tre
Slide 10: Significant promise for the future: BIVV001 protection in a once weekly dosing
Significant promise for the future: BIVV001 protection in a once weekly dosing BIVV001 FVIII activity at 5 days was 12% and at 7 BIVV001 FVIII activity at 5 days was 40% and at days was 5% 7 days was 18% Half-life was 37.56 hours Half-life was 43.76 hours Konkle et at; ASH 2018. FVIII activity deter
Slide 11: Driving growth in Immunology
Driving growth in Immunology Build upon a strong base - Kineret Expand the product platform and footprint - Integration of Synagis business in the US Launch of a new promising monoclonal antibody - emapalumab Bolster pipeline - Indication development for emapalumab and access to MEDI8897
Slide 12: Specialty Care – our future is in Immunology
Specialty Care – our future is in Immunology Revenues (SEK M) 1 000 4 000 Specialty Care 750 3 000 500 2 000 250 1 000 Immunology 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2018 Quarterly 4Q-rolling Expected contribution of Immunology in 2019 12
Slide 13: Kineret – new indications drive growth in Europe
Kineret – new indications drive growth in Europe Revenues (SEK M) 400 1 600 • Q4 revenue SEK 335 M (307) ▪ An increase of 9 per cent (2 per cent at CER) 300 1 200 • Full-year revenue SEK 1,320 M (1,142) ▪ An increase of 16 per cent (12 per cent at CER) • Revenue growth slowed down in Q4, reflecting
Slide 14: Synagis opportunity
Synagis opportunity Will be Sobi’s largest product in Immunology A growing business – demand growth 1.5% in Q4 Expansion of sales force will drive further growth Will create scalability in the US and will provide useful leverage points into the paediatric setting Promising future outlook based on ac
Slide 15: Gamifant – first FDA approved therapy for primary HLH
Gamifant – first FDA approved therapy for primary HLH • Approved by the FDA on 20 November 2018 for the treatment of primary HLH - and first patient treated by the end of 2018 • Marketing Authorisation Application submitted in Aug 2018 in Europe • In 2019 we will make investments into clinical activ
Slide 16: Financial results
Financial results 16
Slide 17: Financial summary
Financial summary Total revenue (SEK M) Q4 Q4 Full-year Full-year 3 000 Amounts in SEK M 2018 2017 Change 2018 2017 Change Total revenues 2,571 1,875 37% 9,139 6,511 40% 2 500 Gross profit 1,894 1,337 42% 6,723 4,657 44% 2 000 Gross margin 74% 71% 74% 72% EBITA 916 619 48% 3,571 2,053 74% 1 500 EBIT
Slide 18: Balance sheet
Balance sheet Dec Dec Dec Dec Amounts in SEK M 2018 2017 2018 2017 ASSETS EQUITY AND LIABILITIES Non-current assets Shareholders’ equity 9,040 6,701 Intangible assets 10,159 6,445 Tangible assets 136 134 Long-term liabilities Financial assets 286 167 Long-term liabilities 3 5 Total non-current asset
Slide 19: Pro forma balance sheet impact of Synagis/ MEDI8897
Pro forma balance sheet impact of Synagis/ MEDI8897 SEK B SEK B • Net Debt: SEK 6 B 0,1 3 0,5 • Net debt / EBITDA: >1X 14 6 • Headroom for further expansion: 5 • Organic 28 28 • M&A activity 17 17 19
Slide 20: Strategy and Outlook
Strategy and Outlook 20
Slide 21: Strategic direction
Strategic direction Develop Grow US business and Drive Haemophilia Strengthen R&D Specialty Care and strengthen position in Penetration pipeline Immunology EMENAR 21
Slide 22: Outlook 2019
Outlook 20191 • 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 US and the lau
Slide 23: Q&A
Q&A 23
Slide 24: Thank you!
Thank you! Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © 2018 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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