Sobi Sees Strong Revenue and EBITA Growth in the First Quarter 2020
STOCKHOLM, April 13, 2020 /PRNewswire/ -- Swedish Orphan Biovitrum AB (publ) (Sobi™) (STO: SOBI) announces today that revenue and EBITA in March are impacted by increases in demand related to the ongoing COVID-19 pandemic. Revenue for the first quarter 2020 is expected to be approximately SEK 4,630 M. EBITA has been positively impacted by the strong revenue development and is expected to be around SEK 2,170 M for the first quarter.
The main reasons for the strong performance in the quarter are:
- Strong growth of haemophilia products reflecting continued patient growth but also advance purchases to secure access to treatment for a longer period than normal.
- An increased demand for Kineret as a result of the COVID-19 pandemic during the later part of the quarter. There is clinical interest in Kineret for the potential treatment of hyperinflammation related to COVID-19 disease.
- Favourable currency effects.
- Continued strong sales of Synagis based on underlying demand.
Guidance for the full-year 2020 of revenue in the range of SEK 15,000 - 16,000 M and EBITA in the range of SEK 5,500 - 6,300 M communicated in the Q4 2019 report remains unchanged inspite of the uncertainty concerning the full-year impact in the market due to the COVID-19 pandemic.
All figures in this press release are preliminary and unaudited.
Sobi will announce its Q1 2020 report on Wednesday 29 April 2020 at 8:00 am CEST.
About 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. Today, Sobi employs approximately 1,400 people across Europe, North America, the Middle East, Russia and North Africa. In 2019, Sobi's revenues amounted to SEK 14.2 billion. Sobi's share (STO:SOBI) is listed on Nasdaq Stockholm. You can find more information about Sobi at www.sobi.com.
This information is information that Swedish Orphan Biovitrum AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Linda Holmström, Corporate Communications and Investor relations at 16:15 CEST on 13 April 2020.
For more information, please contact:
Paula Treutiger, Head of Communication & Investor Relations
+46-733-666-599
[email protected]
Linda Holmström, Corporate Communication & Investor Relations
+46-708-734-095
[email protected]
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Q1 information press release |
SOURCE Swedish Orphan Biovitrum AB
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