Swedish Orphan Biovitrum Updates Outlook For 2016
Swedish Orphan Biovitrum AB (publ) (Sobi(TM)) is updating its outlook for 2016. Following the positive opinion for Alprolix® received from the Committee for Medicinal Products for Human Use (CHMP) on Friday 26 February 2016, Sobi anticipates that the European Commission may grant a Market Authorisation for the product during Q2 2016.
Sobi now expects total revenues for the full year to be in the range of SEK 4,800 to 5,000 M. Revenues will include one-time credits for Elocta® of SEK 300 to 325 M and for Alprolix of SEK 300 to 325 M, which will not impact cash. Gross margin is expected be in the range of 68 to 70 per cent.
Sobi will continue to invest in the launches of Elocta and Alprolix, and will also take on incremental costs of SEK 250 - 300 M reflecting its 50 per cent share of Biogen's ongoing development costs for the products. Sobi will assume these costs when it becomes Marketing Authorisation Holder for Elocta expected in Q1 2016; and for Alprolix in the second half of the year. These incremental costs are included in this outlook.
Sobi expects EBITA for the full year to be in the range of SEK 1,200 to 1,300 M.
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About Sobi(TM)
Sobi is an international speciality healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primary focused on Haemophilia, Inflammation and Genetic diseases. We also market a portfolio of speciality and rare disease products for partner companies across Europe, the Middle East, North Africa and Russia. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2015, Sobi had total revenues of SEK 3.2 billion (USD 385 M) and approximately 700 employees. The share (STO:SOBI) is listed on NASDAQ OMX Stockholm. More information is available at www.sobi.com.
Sobi now expects total revenues for the full year to be in the range of SEK 4,800 to 5,000 M. Revenues will include one-time credits for Elocta® of SEK 300 to 325 M and for Alprolix of SEK 300 to 325 M, which will not impact cash. Gross margin is expected be in the range of 68 to 70 per cent.
Sobi will continue to invest in the launches of Elocta and Alprolix, and will also take on incremental costs of SEK 250 - 300 M reflecting its 50 per cent share of Biogen's ongoing development costs for the products. Sobi will assume these costs when it becomes Marketing Authorisation Holder for Elocta expected in Q1 2016; and for Alprolix in the second half of the year. These incremental costs are included in this outlook.
Sobi expects EBITA for the full year to be in the range of SEK 1,200 to 1,300 M.
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About Sobi(TM)
Sobi is an international speciality healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primary focused on Haemophilia, Inflammation and Genetic diseases. We also market a portfolio of speciality and rare disease products for partner companies across Europe, the Middle East, North Africa and Russia. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2015, Sobi had total revenues of SEK 3.2 billion (USD 385 M) and approximately 700 employees. The share (STO:SOBI) is listed on NASDAQ OMX Stockholm. More information is available at www.sobi.com.