Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q3 2023 Earnings Presentation
25 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Oct 30, 2023
Slide 1: Strong revenue and solid performance
Strong revenue and solid performance Sobi Q3 2023 results Conference call for investors and analysts 30 October 2023
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: Successfully delivering on the strategy
Successfully delivering on the strategy Q3 2023 highlights Sobi strategy Significant growth Q3 revenue SEK 5,168 M, up +29%, +23% at CER Lead in YTD revenue SEK 15,280 M, up +19%, +11% at CER Haematology Steady base and expanded position Stable growth of Elocta® 4% YTD1 and Alprolix® 8% YTD1 Growing
Slide 5: Continuing momentum on CTI and Vonjo
Continuing momentum on CTI and Vonjo Fully subscribed Strong Smooth rights issue sales integration SEK 6bn Q3: SEK 347M Maximising Vonjo’s +13% quarter-on-quarter potential and synergies beyond cost savings 5
Slide 6: Business growth at CER of 23%
Business growth at CER of 23% Strong performance in both Haematology and Immunology for our launch medicines YTD: +15% at CER, excluding Covid-19 effect for Kineret and Doptelet partnering in China Revenue by segment Revenue by region Q3 ’23 change YTD ’23 change contrib. Q3 ’23 change YTD ’23 chang
Slide 7: Growth driven along two vectors – Pipeline/Launch medicines and geography
Growth driven along two vectors – Pipeline/Launch medicines and geography Share of realized potential for illustration purposes 7 Share of yet to achieve potential for illustration purposes Note: This is a schematic chart for illustration purposes only on the basis of current sales
Slide 8: Sobi's launch medicines drives 89% of YTD growth
Sobi’s launch medicines drives 89% of YTD growth Growth Q3 YTD, SEK M at CER +243 +2,038 Elocta Kineret Alprolix Launch medicines Zynlonta Efa Beyfortus Aspaveli/ Vonjo Gamifant Doptelet Empaveli Strong momentum for further growth 8 Doptelet excluding China. Kineret excluding Covid-19 effect. Only p
Slide 9: Haematology: Continued stable haemophilia growth with revenues YTD +4%
Haematology: Continued stable haemophilia growth with revenues YTD +4% Elocta® Alprolix® Elocta +9% Q3 +8% Q3 +4% YTD • Patient growth +8% YTD overcompensating pricing • Geographical expansion • Favourable phasing • Alprolix: • Patient growth overcompensating pricing • Favourable phasing in Middle E
Slide 10: Haematology: Doptelet up 15% (+57% excluding China)
Haematology: Doptelet up 15% (+57% excluding China). Increased US uptake, launches in Europe and International Doptelet +15% Q3 • US: positive evolution of new +21% YTD patients, new prescribers, higher market share , , and duration of treatment , , • Europe: accelerated growth 8 , in Europe and Int
Slide 11: Haematology: Aspaveli launch well underway and positive phase 2 data for nephrology
Haematology: Aspaveli launch well underway and positive phase 2 data for nephrology Solid Aspaveli Launching in Getting closer to launch trajectory Europe and Canada entering nephrology • Germany • Greece • NOBLE phase 2 study • UK • Netherlands • C3G and IC-MPGN • France • Switzerland • Pegcetacopl
Slide 12: Immunology: Gamifant strategy paying off, Kineret increased demand
Immunology: Gamifant strategy paying off Kineret: increased demand in Europe and International Gamifant Kineret +112% Q3 Gamifant +5% Q3 +66% YTD -3% YTD • Increased number of US patients. Adding more patients and with longer treatment • Higher average patient weight increases volatility in sales Ki
Slide 13: 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 13
Slide 14: Q3 2023 Revenue and profit & loss
Q3 2023 Revenue and profit & loss Q3 Q3 Full-year Total revenue (SEK M) Amounts in SEK M 2023 2022 Change 2022 Total revenue 5,168 3,999 29% 18,790 Haematology Immunology Specialty Care Gross profit adjusted 1,2 4,033 3,067 31% 14,014 1,2 Gross margin adjusted 78% 77% 75% 5 991 323 EBITA1,2 1,443 1,
Slide 15: A solid financial position post the rights issue
A solid financial position post the rights issue Debt development, SEK billion 40 4 3.7 35 3.5 30 3 27 2.7 The financing of the CTI 25 2.5 acquisition increased the external borrowings in Q2 20 20 2 15 1.5 Sobi at a comfortable 1.3 1.1 leverage post the Q3 rights 10 9 1 issue 7 5 0.5 0 0 22-Q4 23-Q1
Slide 16: Outlook 2023 – unchanged
Outlook 2023 – unchanged Revenue Anticipated to grow by a high-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 affecting 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: Key pipeline achievements move late-stage forward
Key pipeline achievements move late-stage forward Efanesoctocog alfa Aspaveli / Empaveli Haemophilia A C3G & IC-MPGN Positive phase 2 data in C3G and FREEDOM phase 3b first patient IC-MPGN (NOBLE study) Doptelet Beyfortus™ ITP RSV Japan study fully enrolled FDA approved Sanofi and Paediatric study f
Slide 19: Increasing R&D pipeline news flow
Increasing R&D pipeline news flow Anticipated major upcoming pipeline news flow 2023 2024 Doptelet – ITP1: regulatory decision Aspaveli/Empaveli – C3G & IC-MPGN3: in China VALIANT phase 3 study data readout Kineret – FMF2: regulatory decision Doptelet – ITP1: regulatory submission in China in Japan
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 Q3: +29%, +23% at CER Significant growth Revenue YTD: +19%, +11% CER Elocta® 4% YTD1 and Alprolix® 8% YTD1 Steady base and Growing contribution from launch medicines expanded position Vonjo® sales SEK 347 M Beyfortus™ royalties SEK 263 M Efanesoctocog al
Slide 22: Q&A
Q&A 22
Slide 23: Appendix: Q3 2023 sustainability performance
Appendix: Q3 2023 sustainability performance Sobi sustainability priorities Highlights in Q3 2023 Highlights in Q3 2023 • Milestones toward increased access • Caring for employees - Empaveli (pegcetacoplan) granted - Completion of 2 of 4 planned marketing authorisation in Brazil for workshops for to
Slide 24: Current development pipeline
Current development pipeline Upcoming milestones 2023 Doptelet – ITP1: regulatory decision in China Kineret – FMF2: regulatory decision in China 2024 Aspaveli/Empaveli – C3G3 and IC-MPGN3: VALIANT phase 3 study data readout Doptelet – ITP1: regulatory submission in Japan Efanesoctocog alfa – Haemoph
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- 7 Stockholm • Sweden www.sobi.com
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