Sobi announces preliminary headline numbers for the third quarter and the period January to September 2021 in view of the ongoing public offer for Sobi

On 2 September 2021, Advent and GIC, through Agnafit Bidco AB, announced a public cash offer to Sobi’s shareholders to transfer their shares in Sobi to Agnafit Bidco AB at a price of SEK 235 per share. On the same date, the Board of Directors of Sobi recommended that shareholders accept the public offer from Agnafit Bidco AB. The acceptance period for the public offer expires on 21 October 2021 (subject to any extensions of the acceptance period). For further details on the public offer from Agnafit Bidco AB, please visit the offer website here.

In view of the ongoing public offer, the Board of Directors of Sobi has decided to announce preliminary headline numbers for the third quarter and the period January to September 2021 as soon as possible after the end of the quarter to ensure that Sobi’s shareholders have updated key financial information at their disposal ahead of the expiry of the acceptance period.

The full quarterly report will be published on 22 October 2021, when it has been reviewed by Sobi’s auditors and approved by the Board of Directors of Sobi. The release of the full quarterly report has been brought forward to facilitate the financing process for the ongoing public offer.

July to September 2021

Revenue in the third quarter is estimated at around SEK 3,760 M and EBITA* is estimated at around SEK 1,170 M, corresponding to an EBITA margin of c.31 per cent.

Revenue reflected the expected benefit of an early start to the respiratory syncytial virus (RSV) season for the use of Synagis® in the US as well as advanced deliveries during the quarter of Doptelet® to the Chinese collaborator Fosun following the inclusion of Doptelet on the national reimbursement drug list in China.

The early start of the RSV season should not at this stage be viewed as an indicator of higher-than-normal Synagis sales for the 2021/2022 season. The development of the full season remains highly uncertain.

Sales of Doptelet to China are expected to remain volatile as orders are placed irregularly and in large volumes. The high sales in the third quarter are not expected to be repeated in the following quarter.

Sobi’s core haemophilia medicines performed in line with expectations with growth in patients and consumption per patient offset by price reductions, particularly in Germany, which took effect earlier in 2021.

The EBITA margin reflected the mix of business realised in the quarter coupled with the continued investments in research and development as well as sales and marketing support for ongoing and future launches.

The high share of low-margin Doptelet sales to China had a negative impact on both the gross margin and the EBITA margin compared with previous quarters.

January to September 2021

Revenue for the year-to-date period is estimated at around SEK 10,630 M and EBITA is estimated at around SEK 3,570 M, corresponding to an EBITA margin of c.34 per cent.

Financial outlook 2021

In view of Sobi’s performance in the third quarter, revenue for the full year 2021 is expected to be in the range of SEK 14,500-15,000 M (previously SEK 14,000-15,000 M) with an expected EBITA margin in the range of 33-35 per cent (previously 30-35 per cent) of revenue.

*Alternative performance measure.

Sobi’s auditors have not reviewed the preliminary headline numbers but will review the interim report as of 30 September 2021, and for the nine-month period then ended.

This is information that Swedish Orphan Biovitrum AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on 11 October 2021 at 19:30 CEST.

Contacts

Thomas Kudsk Larsen
Head of Communication and Investor Relations

Maria Kruse
Director of Communication and Investor Relations

For details on how to contact the Sobi Investor Relations Team, please click here. For Sobi Media contacts, click here.

Sobi

Sobi is a specialised international biopharmaceutical company transforming the lives of people with rare diseases. Sobi is providing sustainable access to innovative therapies in the areas of haematology, immunology, and specialty indications. Sobi employs approximately 1,500 people across Europe, North America, the Middle East, Russia, and Asia. In 2020, Sobi’s revenues amounted to SEK 15.3 billion. Sobi’s share (STO: SOBI) is listed on Nasdaq Stockholm. You can find more information about Sobi at sobi.com.

Swedish Orphan Biovitrum AB (publ)
Postal address SE-112 76 Stockholm, Sweden
Phone: 46 8 697 20 00     www.sobi.com