Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q4 2023 Earnings Presentation
25 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Feb 18, 2024
Slide 1: Strong revenue performance and growth into 2024
Strong revenue performance and growth into 2024 Sobi Q4 and FY 2023 results Conference call for investors and analysts 08 February 2024
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: 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 CMO Summary and Q&A 3
Slide 4: Strategic portfolio delivering on growth aspirations
Strategic portfolio delivering on growth aspirations Sobi strategy Double-digit performance Revenue • Q4 - SEK 6,844 M, +14% (+15% at CER) Lead in • FY - SEK 22,123 M, +18% (+12% at CER); exceeding our growth outlook Haematology EBITA margin adjusted 38% in Q4 and 34% in FY; outlook fully met Strate
Slide 5: Business growth at CER of 15% in Q4
Business growth at CER of 15% in Q4 Growth driven by launch medicines and geographical expansion Revenue by segment Revenue by region Q4 2023 change FY 2023 change contrib. Q4 2023 change FY 2023 change contrib. SEK M % SEK M % % SEK M % SEK M % % Europe 2,232 +14 8,511 +6 38 Haematology 3,640 +21 1
Slide 6: Strategic portfolio set to be the main contributor to our revenue
Strategic portfolio set to be the main contributor to our revenue Portfolio segments and Revenue, MSEK • In Q4 the strategic portfolio % actual sales growth contribution to growth already contributed 40% of total 22,123 business Strategic portfolio including 18,790 +116% Aspaveli/Empaveli, Doptelet,
Slide 7: Growth continues through pipeline and geographical expansion
Growth continues through pipeline and geographical expansion SEL-212 Pipeline (CRG) Aspaveli (C3G/IC-MPGN) Gamifant Doptelet Strategic (sHLH) Efanesoctocog alfa portfolio Hemophilia A Vonjo Beyfortus Aspaveli (MF & tbd) (RSV royalties) (PNH) Zynlonta Doptelet (2L DLBCL) Foundational Foundational por
Slide 8: Haematology: Doptelet ex China showing strong momentum
Haematology: Doptelet ex China showing strong momentum (growth of 59% at CER in Q4) Doptelet ex China +59% in Q4 +62% FY • US: Increased uptake driven by higher market share and duration of treatment • Europe and international ongoing growth driven by launches • Sales growth 62% at CER (ex-China) fo
Slide 9: Haematology: Aspaveli/Empaveli launch progressing
Haematology: Aspaveli/Empaveli launch progressing Phase 3 data (VALIANT study) in Nephrology expected in 2024 Solid Aspaveli/Empaveli launch trajectory PNH • Launched in more than 27 countries across EU, International region and Canada • CHMP positive opinion for 1L PNH received on January 25 th • Q
Slide 10: Haematology: Vonjo launch elements in place for growth in 24
Haematology: Vonjo launch elements in place for growth in 2024 The evolution of new patient starts during the Vonjo launch progressing with CTI transition period has impacted Q4 results and new sales force will have some effect in Q1 • Q4 sales SEK 322 M, FY SEK 706 M significantly contributing to t
Slide 11: Haematology: Stable haemophilia franchise growth with revenues +6% for FY 2023
Haematology: Stable haemophilia franchise growth with revenues +6% for FY 2023 Elocta Alprolix Elocta +11% Q4 +0% Q4 +6% FY • Patient growth +6% FY • Geographical expansion • Favourable phasing Alprolix • Patient growth compensating for pricing pressure Sa l es in SEK mi llion at a ctual exchange ra
Slide 12: Immunology: Beyfortus demand overcompensated for Synagis decline
Immunology: Beyfortus demand overcompensated for Synagis decline Synagis RSV revenues -52% Q4 Synagis YOY, SEK M -35% FY • Sales impacted by later RSV season and launch of Beyfortus • FY SEK 2,422 M Beyfortus royalties • Strong launch in US with very high demand • Royalties in Q4 SEK 890 M and for t
Slide 13: Immunology: Gamifant and Kineret
Immunology: Gamifant strategy increasing market share Kineret: increased demand in Europe and US Gamifant Kineret +107% Q4 Gamifant +11% Q4 +77% FY 0% FY • Growth driven by: • Increased number of patients from new and established centers • Higher average patient weight/dosing mix Kineret • Growth fr
Slide 14: 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 CMO Summary and Q&A 14
Slide 15: Q4 2023 Revenue and profit & loss
Q4 2023 Revenue and profit & loss Total revenue (SEK M) Haematology Immunology Specialty Care 6 844 298 5 991 323 5 239 5 168 273 4 872 284 2 905 263 2 643 1 400 2 151 1 179 3 430 3 484 3 640 3 025 2 815 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 1. Al ternative performance measures (APM), s ee the Q4
Slide 16: Outlook 2024
Outlook 2024 Revenue Anticipated to grow by a high single-digit percentage at CER1 EBITA margin adjusted2 Anticipated to be in the mid-30s percentage of revenue 1. Cons tant exchange ra tes 2. Excl uding items a ffecting comparability. 16
Slide 17: 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 CMO Summary and Q&A 17
Slide 18: Pipeline and medical highlights
Pipeline and medical highlights Aspaveli/Empaveli Vonjo C3G & IC-MPGN Myelofibrosis NOBLE Ph 2 positive data VALIANT Ph 3 fully enrolled NCCN guidelines updated PNH 1-Line positive CHMP1 Kineret FMF & CAPS CAD China approvals for FMF and Program terminated1 CAPS 1.Subs equent event i n January 2024
Slide 19: Significant events ahead in 2024
Significant events ahead in 2024 Anticipated major upcoming pipeline news flow Efanesoctocog alfa SEL-212 & Gamifant Doptelet & Kineret EU decision US submissions GeoExpansion CN, JP 2024 H1 2024 H2 Doptelet – ITP: Aspaveli/Empaveli – C3G & IC-MPGN: • Regulatory decision in China • VALIANT phase 3 s
Slide 20: 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 CMO Summary and Q&A 20
Slide 21: Summary: Growth and pipeline progress
Summary: Growth and pipeline progress Revenue Q4: SEK 6,844 M, +14%, +15% at CER Second consecutive year as me Significant growth mber of DJSI Europe Revenue FY: SEK 22,123 M, +18%, +12% CER Elocta and Alprolix 6% CER growth at FY Steady base and Growing contribution in Q4 from launch medicines: ex
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Slide 23: Appendix: Q4 2023 sustainability performance
Appendix: Q4 2023 sustainability performance Sobi sustainability priorities Highlights in Q4 2023 Highlights in Q4 2023 • Milestones toward increased access • Caring for employees - Kineret (anakinra) received first approval - Continued roll-out of Diversity, Equity in China as treatment for FMF. an
Slide 24: Current development pipeline
Current development pipeline Major ongoing clinical studies and medicines in registration in a major region or country Upcoming milestones 2024 H1 Doptelet – ITP: • Regulatory decision in China Efanesoctocog alfa – Haemophilia A: • Regulatory decision in EU Kineret – Still’s disease: • Regulatory de
Slide 25: Thank you
Thank you Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © 2022 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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