Interim financial report for the period 1st April to 30th June, 2010
(Translation only)
Strong sales growth in the US and positive pipe line progression. Revenues and EBITA amounted to SEK 510 M and SEK 60 M, respectively · Revenues, excluding Tracleer, increased by 9% in Constant Exchange Rate (CER) and by 3% in SEK - Sales in North America increased by 38% in CER and by 32% in SEK - Sales in Europe, excluding Tracleer, increased by 3% in CER, corresponding to ‑6% in SEK - Sales of Kineret® increased by 10% in CER and by 2% in SEK - Sales of Orfadin® increased by 15% in CER and by 5% in SEK - Total ReFacto® revenues increased by 7% in CER and by 6% in SEK · EBITA for the period was SEK 59.6 M (-1.0, proforma 52.6) and core EPS was SEK 0.21 (0.29) · Kiobrina® advanced into phase III development and the study results from the first clinical phase II trial were presented externally · Swedish Orphan Biovitrum signed an agreement with Pharming regarding the exclusive commercial right to Ruconest® in 24 EU countries. On June 24, the product received positive opinion from the CHMP, paving the way for an EC approval through the centralized procedure during early autumn 2010. · Swedish Orphan Biovitrum signed a long-term supply agreement with Boeringer Ingelheim covering commercial manufacturing of the active substance for Kineret. Significant events after the reporting period · The outlines of a commercial alliance with the Chinese company Dongbao was announced on July 6 · The decision to proceed rFVIIIFc into registrational studies was announced on July 9 · The results from the phase I/II study with rFIXFc was presented on July 11 at the World Federation of Hemophilia Congress in Buenos Aires, demonstrating a three-fold increase in half-life CEO Comments Martin Nicklasson, CEO, said: I am very satisfied that the investment we have made in Marketing & Sales in the US now generates strong product sales growth. Continued price pressure in the pharmaceutical market in Europe hampers our performance, but I am optimistic that the additional investments we recently also have made in Europe, will generate stronger sales performance during the second half of this year. The further advancements, of both Kiobrina and rFVIIIFc into phase III clinical development, are encouraging. We have also continued our effort of expanding our commercial portfolio. Both the agreement with Pharming and the outlines of a commercial alliance with Dongbao will have the potential to become significant contributors for long term growth. Conference call details The Interim Report for the second quarter 2010 will be presented by Swedish Orphan Biovitrum´s CEO Martin Nicklasson and CFO Göran Arvidson at a media and analyst telephone conference. The presentation will be held in English and can also be followed, direct or retrospectively, by an audio cast via internet. Time: Tuesday, July 20, 2010 at 3.00 p.m. (CET) Telephone dial in: To participate in the telephone Conference please call: UK: +44 (0)207 509 5139 SWE: +46 (0)8 505 202 70 US: +1 718 354 1226 To follow the Telephone conference via audio cast, direct or retrospectively through internet you will find the link on our web site, please visit: www.sobi.com (under the heading of Investor relations / presentations) The presentation material will be available on our web site 30 minutes prior to the telephone conference, please visit: www.sobi.com (under the heading of Investor relations/ presentations) Contacts for further information: Swedish Orphan Biovitrum AB (publ): Erik Kinnman, Investor Relations phone +46 73 422 15 40 Martin Nicklasson, CEO phone +46 8 697 23 27 Göran Arvidson, CFO phone +46 8 697 23 68 About Swedish Orphan Biovitrum Swedish Orphan Biovitrum is a Swedish based niche specialty pharmaceutical company with an international market presence. The company is focused on providing and developing specialist pharmaceuticals for rare disease patients with high medical needs. The portfolio consists of about 60 marketed products and an emerging late stage clinical development pipe-line. Our focus areas are: hemophilia, inflammation/autoimmune diseases, fat malabsorption, cancer supportive care and inherited metabolic disorders. Swedish Orphan Biovitrum had pro-forma revenues 2009e of about 2 BSEK and approximately 500 employees. The head office is located in Sweden and the share (STO: SOBI) is listed on NASDAQ OMX Stockholm. For more information please visitwww.sobi.com. Swedish Orphan Biovitrum may be required to disclose the information provided herein pursuant to the Swedish Securities Markets Act. The information was provided for public release on July 20, 2010 at 8:30 a.m. CET.