Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q1 2020 Earnings Presentation
31 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Apr 29, 2020
Slide 1: Q1 2020 results
Q1 2020 results 29 April, 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: Taking charge in a challenging environment
Taking charge in a challenging environment… 2 Take care of patients Secure supply for all key products, respond to increased demand in a flexible way 1 Protect team Early travel restrictions, enable a virtual office environment whenever possible Continue access Interactions with health care professi
Slide 5: Q1 2020: Strong start to year despite challenging period
Q1 2020: Strong start to year despite challenging period Immunology: 57% growth at CER year on year • Kineret: Strong acceleration in growth due to COVID-19 +39% CER Strong demand… • Synagis: Uplift on continued execution and seasonal demand +72%1 CER • Gamifant: Acceleration of uptake in younger pH
Slide 6: Progress in building a strong second leg in Immunology
Progress in building a strong second leg in Immunology Q1 sales breakdown over past three years SEK M 39% Specialty Care 34% 4,639 Immunology Haematology 445 15% 3,265 1 800 434 1,964 1 100 445 297 2 394 1 731 1 222 Q1 2018 Q1 2019 Q1 2020 6
Slide 7: A clear strategic focus for mid-term growth
A clear strategic focus for mid-term growth Strategic priorities Q1 2020 update Maintain Gained market share 1 Maintain haemophilia leadership Innovate Launched digital platform Haematology Diversify ITP - First 450 patients treated in US; Filed ITP 2 Build Doptelet to scale indication in the EU Bui
Slide 8: COVID-19 impact: We remain focused and agile
COVID-19 impact: We remain focused and agile Activities undergoing to ensure access to treatment and supply maintained • Patient support activities Supply • Working closely with suppliers and partners to keep the supply chain up-and-running • For now, production and supply of Sobi’s products are not
Slide 9: Business review Haematology
Business review Haematology 9
Slide 10: Haematology: Growth driven by haemophilia portfolio
Haematology: Growth driven by haemophilia portfolio Sales (SEK M) • Total Haematology revenue reached SEK 2,394 M (1,731) for 2 800 the quarter, an increase of 38 per cent (34 per cent at CER) 2 400 - Royalty revenue amounted to SEK 335 M (334) for the quarter 2 000 • Doptelet sales were SEK 65 M fo
Slide 11: Haemophilia portfolio: High single-digit patient growth QoQ
Haemophilia portfolio: High single-digit patient growth QoQ Elocta Alprolix Sales (SEK M) • Elocta sales rose 37 per cent (33 per cent at CER) for the quarter to SEK 1,359 M (991) 1 500 6 000 500 2 000 - Majority of growth derived from Spain and CEE 1 200 4 800 400 1 600 - Largest part of growth ema
Slide 12: Haematology
@sobl Enabling life beyond haemophilia. & 8 3 8 £ 8 =
Slide 13: Business review Immunology
Business review Immunology 13
Slide 14: Immunology: Kineret and Synagis driving growth in Q1
Immunology: Kineret and Synagis driving growth in Q1 Sales (SEK M) • Q4 revenue of SEK 1,800 M (1,100) - Revenue growth of 64 per cent (57 per cent at CER) 2 500 • Two largest products driving growth 2 000 - Synagis sales for the quarter were SEK 1,196 M (665), corresponding to growth of 80 per cent
Slide 15: Kineret: Late increased demand driven by COVID-19
Kineret: Late increased demand driven by COVID-19 Sales (SEK M) • Kineret sales for the quarter were SEK 501 M (346), an 600 2 400 increase of 45 per cent (39 per cent at CER) 500 2 000 • Kineret continues to perform positively, with a very strong first quarter 400 1 600 • Growth is mainly driven by
Slide 16: Gamifant: On the way to become an important drug for Sobi
Gamifant: On the way to become an important drug for Sobi Q1 updates Compelling Strong scientific evidence, that IFN contributes to clinical conditions seen in HLH scientific 1 patients evidence Demonstrated Demonstrated efficacy and effectiveness in neutralising IFN in conditions where 2 efficacy
Slide 17: Gamifant: Q1 highlights and the journey ahead
Gamifant: Q1 highlights and the journey ahead Accessible Patient Pool Q1, an exciting quarter for Gamifant (emapalumab) 10k Next 1. 1 Whilst sales increased by 17% at act. rate, we were able to indications increase no. of patients by 21% vs. Q4 2019 2. 2 Completed enrolment in MAS/SIJA study 3k Inte
Slide 18: Pipeline
Pipeline 18
Slide 19: Role of cytokine storm syndrome (CSS)
Role of cytokine storm syndrome (CSS) COVID-19 Current management of COVID-19 is mainly supportive… CSS …and respiratory failure from acute respiratory distress syndrome (ARDS) is the leading cause of mortality1 Accumulating evidence Pattern similar to sHLH… indicates that hyper- Progression to ARDS
Slide 20: Cytokine storm due to overactivation of the immune system
Cytokine storm due to overactivation of the immune system: Proposed pathomechanism of severe viral infections Illustrative view: Continuous inflammatory feedback loop causing cytokine storm • Overproduction of immune cells and their activating compounds (cytokines) • Surge of activated immune cells
Slide 21: 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 2020 will continue to Anti-CD47/CD191 Secondary HLH/MAS rFVIIIFc-vWF-XTEN2 Primary HLH (EU) B cell lymphoma children Haemophilia A SUBMITTED provide opportun
Slide 22: Q1 2020 Financial results
Q1 2020 Financial results 22
Slide 23: Q1 2020: Revenue build
Q1 2020: Revenue build Total revenue (SEK M) 179 4 639 471 145 -8 588 3 265 Q1 2019 Haematology Synagis Kineret & Specialty Care FX Q1 2020 Gamifant 23
Slide 24: Q1 2020: Financial results
Q1 2020: Financial results Total revenue (SEK M) Q1 Q1 Full-year 5 000 Amounts in SEK M 2020 2019 Change 2019 Total revenue 4,639 3,265 42% 14,248 4 000 Gross profit 3,598 2,494 44% 10,913 Gross margin1 78% 76% 77% EBITA adjusted1,3 2,173 1,471 48% 6,145 3 000 EBITA margin adjusted1,3 47% 45% 43% Pr
Slide 25: Continued strong operating cash flow in Q1 2020, leverage < 2.5x
Continued strong operating cash flow in Q1 2020, leverage < 2.5x Net debt (SEK M) Q1 2020 update -1.2B 16 000 • Operating cash flows of 2B SEK 12 000 • Net debt reduction of -1.2B • Leverage < 2.5x 8 000 • Available liquidity of ~7B SEK 4 000 0 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Acquisitions &
Slide 26: Sobi stands strong in the current COVID-19 environment
Sobi stands strong in the current COVID-19 environment Unchanged or increased demand Ability to supply product Receivables under control Strong liquidity reserves 26
Slide 27: Q1 summary
Q1 summary 27
Slide 28: Q1 2020: Significant progress achieved
Q1 2020: Significant progress achieved Strategic actions • Launch of Florio, our digital solution for Haemophilia patients to live a life Florio launch Haematology with fewer compromises -- Liberate life Establishing leadership • CIT: Over 100 patients enrolled in study Avatrombopag • ITP: Filing in
Slide 29: Financial outlook 2020: unchanged
Financial outlook 2020: 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 the two core businesses, Haematology and Immunology. EBITA is expected to be in the range of SEK 5,500-6,300 M, including the development and launch
Slide 30: Q&A
Q&A 30
Slide 31: Sobi trademark and contact details
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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