Geoffrey McDonough, CEO: "We continued to see steady progress across our
businesses in the quarter with good underlying growth in revenues driven by
investment in commercial infrastructure and geographical expansion. Our US
affiliate is now fully operational and we have established a new subsidiary in
Dubai, Sobi Middle East FZ. The quarter also contained several key milestones in
the advancement of our pipeline, with the initiation of the pediatric trials in
hemophilia and with the filing to expand the label for Kineret® in the United
States. In July, we signed a research collaboration and option agreement with
Affibody within the IL-1 field, which may allow us to build further value in
this area in the future."
Second quarter
* Total revenues were SEK 480.7 M (490.0). Revenues for 2011 include
discontinued products and co-promotion for ReFacto AF®/BeneFIX® amounting to
SEK 43.3 M. Adjusted for these items total revenues increased by 8%, of
which 3% refers to currency.
* Product revenues1) amounted to SEK 316.1 M (302.1), an increase of 5%
adjusted as above. Revenues include a milestone of SEK 13.1 M from a new
distribution agreement for Orfadin®.
* Revenues from ReFacto manufacturing and royalty rose by 5%.
* Gross margin was 51% (56), impacted by costs for the transfer of Kineret®
production and the divestment of the co-promotion rights.
* Operating profit was SEK -69.8 M (127.3). The figure for 2011 includes the
allowance for Multiferon® of SEK 149.2 M and co-promotion of SEK 26.2 M.
* A 5-year unsecured bond loan in the amount of SEK 600 M was issued on June
26.
* The previously published outlook for 2012 remains unchanged.
Telephone Conference
The interim report for the second quarter 2012 will be presented by CEO Geoffrey
McDonough, COO Alan Raffensperger and CFO Lars Sandström at a media and analyst
telephone conference.
Time: Thursday, 19 July 2012 at 3 p.m. (CET)
To participate in the telephone conference, please call:
SE: +46 (0)8 505 629 32
UK: +44 (0)207 108 62 05
US: + 1 866 676 58 70
A recorded version will be available afterwards at www.sobi.com under Investors
& Media/Audio cast. Slides used in the presentation will also be available on
the web site under Investors & Media/Presentations.
For more information, please contact:
Lars Sandström, CFO, Telephone: +46 8 697 26 33
Swedish Orphan Biovitrum (Sobi)
Sobi is a leading integrated biopharmaceutical company dedicated to bringing
innovative therapies and services to improve the lives of rare disease patients.
The product portfolio is primarily focused on Inflammation and on Genetics and
Metabolism, and three late stage biological development projects within
hemophilia and neonatology. Sobi also has a portfolio of more than 40 products
which it commercializes on behalf of specialty and rare disease partners
companies. In 2011, Sobi had revenues of SEK 1.9 billion and around 500
employees. The share (STO: SOBI) is listed on NASDAQ OMX Stockholm. More
information is available at www.sobi.com.
The above information has been made public in accordance with the Swedish
Securities Market Act and/or the Financial Instruments Trading Act. The
information was released for public distribution on 19 July 2012 at 8.30 CET.
[HUG#1627798]
