Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q1 2023 Earnings Presentation
21 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Apr 27, 2023
Slide 1: Q1 2023 report
Q1 2023 report Conference call for investors and analysts 27 April 2023
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) (Sobi®) is providing the following cautionary statement: This presentation contains forward-looking statements with re
Slide 3: Agenda and presenters
Agenda and presenters Overview and business Guido Oelkers, Chief Executive Officer Financials Henrik Stenqvist, Chief Financial Officer Pipeline Tony Hoos, Head of RDMA1, Chief Medical Officer Summary and Q&A All 1. Research & Development and Medical Affairs. 3
Slide 4: Overview: Continued solid progress
Overview: Continued solid progress • Revenue +6% and -2% at CER. Revenue increased by +8% excluding Kineret® COVID-19 related sales and Doptelet® sales in China Strong • Launch medicines1 +66% in Q1, driven by Doptelet pipeline • Haemophilia grew by +10%, Aspaveli® launch progressing well, SEK 95 M
Slide 5: Business: Growth at act. currency of 6%, at CER of -2%
Business: Growth at act. currency of 6%, at CER of -2% Underlying growth of 8%, excluding the phasing effect of sales to our partner in China and missing COVID-19 business Q1 ’23 change ratio Q1 ’23 change ratio SEK M % % SEK M % % Haematology 2,815 5 55 Europe 2,142 12 42 – Haemophilia 2,053 7 40 N
Slide 6: Haematology: haemophilia up in the quarter driven by increased patients and consumption
Haematology: haemophilia up in the quarter driven by increased patients and consumption Elocta® Haemophilia continued Alprolix® +9% Q1 stability in Q1 2023 +16% Q1 Elocta • Growth in patients, consumption and geo expansion somewhat offset by price Alprolix • Growth in patients and geo expansion offs
Slide 7: Haematology: Doptelet up 78% in Q1 in markets outside China
Haematology: Doptelet up 78% in Q1 in markets outside China Doptelet -28% Q1 • US: new patients, new prescribers, higher market share and longer duration of treatment • Europe: strong growth from Germany and recent reimbursements, e.g. Italy, Spain • China: no sales in Q1 (SEK 352M) Sales in SEK mil
Slide 8: Aspaveli launch: SEK 95 M in Q1 2023 sales
Launching in Germany, the UK, France, the Middle East and Australia; first sales in other SEK countries launching in 95 M Europe for PNH1 in Q1 2023 sales ~140 people on commercial supply 1. In the EU and the UK, Aspaveli is indicated for the treatment of adults with paroxysmal nocturnal haemoglobin
Slide 9: Immunology: Kineret COVID-19 impact, Gamifant patient growth
Immunology: Kineret COVID-19 impact, Gamifant patient growth Kineret Gamifant -24% Q1 +5% Q1 Kineret • Sales performance impacted by Q1 2022 COVID-19 related sales. Rebasing to be completed by next quarter Gamifant • Increased adoption in the US offset by lower use in adults Sales in SEK million at
Slide 10: Immunology: Synagis quarter sales in line with plan
Immunology: Synagis quarter sales in line with plan Synagis® -3% Q1 • SEK 1,398 M sales (1,286) increased by +9 per cent and decreased by -3 per cent at CER • Sales reflect expected seasonal variability following strong demand earlier in the season • Favourable price development • Nirsevimab royalti
Slide 11: Agenda and presenters
Agenda and presenters Overview and business Guido Oelkers, Chief Executive Officer Financials Henrik Stenqvist, Chief Financial Officer Pipeline Tony Hoos, Head of RDMA, Chief Medical Officer Summary and Q&A All 11
Slide 12: Revenue and profit & loss
Revenue and profit & loss Q1 Q1 Full-year Total revenue (SEK M) Amounts in SEK M 2023 2022 Change 2022 Total revenue 5,239 4,925 6% 18,790 Haematology Immunology Specialty Care Gross profit 4,172 3,409 22% 14,014 5,991 Gross margin1,2 80% 69% 75% 323 5,239 EBITA1,2 2,121 1,290 64% 5,930 4,925 273 30
Slide 13: Outlook 2023 – unchanged
Outlook 2023 – unchanged Outlook excludes Sobi’s right to royalty on net sales of nirsevimab in the US Revenue Anticipated to grow by a low-to-mid-single-digit percentage at CER1 EBITA margin adjusted2 Anticipated to be at a low 30s percentage of revenue 1. Constant exchange rates 2. Excluding items
Slide 14: Agenda and presenters
Agenda and presenters Overview and business Guido Oelkers, Chief Executive Officer Financials Henrik Stenqvist, Chief Financial Officer Pipeline Tony Hoos, Head of RDMA, Chief Medical Officer Summary and Q&A All 14
Slide 15: Pipeline: continued milestone progress
Pipeline: continued milestone progress Major pipeline milestones since the previous report efanesoctocog alfa haemophilia A regulatory approval in the US (by Sanofi) efanesoctocog alfa haemophilia A positive XTEND-Kids phase 3 study topline data readout (paediatric) Kineret CAPS regulatory submissio
Slide 16: Pipeline news flow increasing
Pipeline news flow increasing Anticipated major upcoming pipeline news flow H2 2023 2024 efanesoctocog alfa – haemophilia A: regulatory Doptelet – ITP: regulatory submission in Japan submission in the EU Aspaveli/Empaveli – IC-MPGN3 and C3G3: Doptelet – ITP1: regulatory decision in China VALIANT pha
Slide 17: Agenda and presenters
Agenda and presenters Overview and business Guido Oelkers, Chief Executive Officer Financials Henrik Stenqvist, Chief Financial Officer Pipeline Tony Hoos, Head of RDMA, Chief Medical Officer Summary and Q&A All 17
Slide 18: Summary Q1 2023
Summary Q1 2023 • Continued solid progress • Strong earnings • Strength in major product areas, accelerating launches1 Strong pipeline • Several major pipeline milestones achieved progress +66% Q1 2023 revenue • Outlook 2023 unchanged2 launch medicines1 • Revenue to grow by a low-to-mid-single-digit
Slide 19: Q&A
Q&A 19
Slide 20: Appendix: Q1 2023 sustainability performance
Appendix: Q1 2023 sustainability performance Sobi sustainability priorities Highlights in Q1 2023 Highlights in Q1 2023 • Milestones toward increased access • Caring for employees - Positive results from phase 3 studies on - Choosing and celebrating the two SEL-212 used to treat patients suffering w
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