(Translation only)
Weak European performance in the third quarter, offset by continued US sales growth Third quarter revenues and EBITA, excluding restructuring costs, amounted to SEK 444 M and SEK 63 M, respectively * Revenues, excluding Tracleer, increased by 5% in Constant Exchange Rate (CER) and was unchanged in SEK * Sales in North America increased by 16% in CER and by 17% in SEK * Sales in Europe decreased by 1% in CER, corresponding to -11% in SEK * Sales of Kineret® increased by 2% in CER and decreased by 2% in SEK * Sales of Orfadin® increased by 21% in CER and by 14% in SEK * Total ReFacto® revenues increased by 4% in CER * EBITA, excluding restructuring costs was SEK 63.1 M (proforma 34.0) and core EPS was SEK 0.19 (0.20) * Net income and EPS amounted to SEK -27.5 M (7.9) and SEK -0.13 (0.08) * A Letter of Intent to form a Commercial Alliance with the Chinese company Dongbao was announced * rFIXFc phase I/II results, showing a three-fold increase in half-life, were presented * Based on positive phase I/II data, a decision to proceed rFVIIIFc into Phase III studies was taken. rFVIIIFc also received orphan drug designation in Europe * Kineret® received orphan drug designation in the US for cryopyrin-associated periodic syndromes (CAPS) * Xagrid, Fosrenol, and Equasym distribution agreements will sequentially be discontinued during 2011 * Full year guidance adjusted (see outlook 2010, page 9) Significant events after the reporting period * Sym001 (rozrolimupab) for ITP received orphan drug designation in the US * The Exinalda project has been discontinued CEO Comments Martin Nicklasson, CEO, said: We are seeing strong continued US sales growth, directly linked to the build-up of our Marketing & Sales resources and activities. Unfortunately, since many European countries are facing budget troubles, we have seen a weaker sales performance in the European market. This was particularly manifested at the end of the third quarter. We have also seen lately, a risk adverse buying pattern on a wholesaler and distribution level, with no or delayed purchase of products, awaiting the implementation of announced price cuts in some countries. During the year an increased level of parallel trade has also occurred. Finally, launches of new growth products in Europe have been delayed or hampered, and sales from these products will not have a significant impact until 2011. Due to this, we have to adjust our full year guidance. Conference call details The Interim Report for the third 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 a web cast via internet. Time: Tuesday, October 26, 2010 at 3.00 p.m. (CET) Venue: Grand Hôtel, Stockholm Sweden (room "Mårten Vinge") Please register for participation to Maria Mattsson on [email protected] or by phone +46 70 438 88 53 To participate in the Telephone Conference Please call: UK: +44 (0)20 3043 2436, SE: +46 (0)8 505 598 53, US: +1 866 458 40 87 To follow the Telephone conference via web cast, direct or retrospectively by Internet you will find the link on our web site, please visit: www.sobi.com Contacts for further information 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 SEK 2 B 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 visit www.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 October 26, 2010 at 8:30 a.m. CET.
We are a global biopharma company unlocking the potential of breakthrough innovations, transforming everyday life for people living with rare diseases.
Our therapies are concentrated within the areas of Haematology, Immunology and Specialty Care.
We contribute to societies by improving access to treatment of rare diseases.
Every day, we work actively to find better ways to understand and meet patient needs.
Find out more about our business and financial performance.
Here we present our most recent press releases, news articles, and images.