Swedish Orphan Biovitrum AB (publ) (Sobi) today announced its results for the third quarter 2013. Revenues for the quarter totalled SEK 517 M (464), an increase of 12 per cent. Kineret® and Partner Products showed strong performance in the quarter. The company reconfirmed its outlook for the year.
- Entered into a collaboration agreement for XIAPEX® in 71 European, Asian and African countries with Auxilium Pharmaceuticals, Inc.
- Acquired full rights for Kineret and additional clinical data for Kepivance® from Amgen
- Expanded the COMETRIQ® territories for which Sobi is responsible
- Received positive CHMP opinion for Kineret for treatment of rare disease CAPS
- Submitted application for Orfadin® oral suspension to EMA and FDA
- Total revenues were SEK 517 M (464)
- Gross margin was 59 per cent (57) for the quarter
- Ended the quarter with a cash position of SEK 449 M
- Outlook for 2013 remains unchanged
"The third quarter for Sobi demonstrated solid progress in operational performance, business development, and in the advancement of our pipeline. Revenue for the overall portfolio grew by 12 per cent compared to last year, with Kineret and Partner Products showing strong performance in the quarter. Our margins are evolving as expected and we are making good progress financially with a stable cash position and improved profitability from operations," said Geoffrey McDonough, CEO and President.
Sobi`s report for the third quarter 2013 can be found on http://www.sobi.com/Investors--Media/Reports/
Sobi is an international specialty 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 primarily focused on Inflammation and Genetic diseases, with three late-stage biological development projects within Haemophilia and Neonatology. We also market a portfolio of specialty and rare disease products for partner companies. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2012, Sobi had total revenues of SEK 1.9 billion (€ 215 M) and about 500 employees. The share (SOBI.ST) is listed on NASDAQ OMX Stockholm. More information is available at www.sobi.com
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The above information has been made public in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was released for public distribution on 30 October 2013, at 8:00 CET
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Source: Swedish Orphan Biovitrum AB (publ) via Thomson Reuters ONE