SWEDISH ORPHAN BIOVITRUM AB Q1 2024 report
Strong sales reflecting the strength of
the portfolio
Conference call for
investors and analysts
25 April 2024
Forward-looking statements
This presentation contains certain forward-looking statements with respect to certain of the Company's current expectations and projections about future events. These statements, which sometimes use words such as "intend," "proposed," "plan," "expect," and words of similar meaning, reflect management's beliefs and expectations and involve a number of risks, uncertainties and assumptions that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statement. Statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this presentation is subject to change without notice and, except as required by applicable law, the Company does not assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained in it. You should not place undue reliance on forward-looking statements, which speak only as at the date of this presentation.
2
Agenda
Business update
Financials
R&D Pipeline
Summary and Q&A
Guido Oelkers, Chief Executive Officer
Henrik Stenqvist, Chief Financial Officer
Lydia Abad-Franch, Head of R&D and CMO
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Strategic portfolio delivering top-line growth in all regions
Sobi strategy
High double-digit performance at CER
Revenue Q1 - SEK 6,256 M, +20%
EBITA margin adjusted 37%
Strategic portfolio1 accounting for 35% of sales in Q1 (15% Q1 2023)
• | Vonjo® (SEK 320 M) | • Continued strong growth | ||
• | Beyfortus | royalties SEK 318 M | • | Doptelet® (SEK 756 M, +59%) |
• | Altuviiio | royalties SEK 108 M | • | Gamifant® (SEK 438 M, +100%) |
• | Aspaveli/Empaveli® (SEK 240 M, +155%) |
Key milestones for late-stage pipeline
• | Doptelet: positive phase 3 paediatric data | • | SEL-212: FDA fast-track designation |
• | Aspaveli /Empaveli: 1-L positive CHMP | • | Kineret: Approved for Still's disease in China |
opinion in PNH | |||
2024 outlook - Unchanged
Revenue: anticipated to grow by a high single-digit percentage at CER
Adjusted EBITA margin: anticipated to be in the mid-30s per cent of revenue
Lead in
Haematology
Capture the value of the pipeline
Grow Immunology and Specialty Care
Go Global
1:Strategic portfolio includes Aspaveli/Empaveli, Doptelet excluding China, Gamifant, Vonjo and Zynlonta and royalties from Beyfortus and Altuviiio. Per cent growth calculated in CER | 4 |
Business growth at CER of 20% in Q1
Growth driven by launch medicines and geographical expansion
Revenue by segment
Q1 2024 | change | ratio | |
SEK M | % | % | |
Haematology | 4,075 | +46 | 65 |
- Haemophilia | 2,746 | +23 | 44 |
Immunology | 1,908 | -11 | 30 |
Specialty Care | 272 | -1 | 4 |
Total | 6,256 | +20 | 100 |
Revenue by region
Q1 2024 | change | ratio | |
SEK M | % | % | |
Europe | 2,487 | +15 | 40 |
North America | 2,244 | -3 | 36 |
Royalties North | 658 | 154 | 11 |
America | |||
International | 790 | +96 | 13 |
Other | 77 | -9 | <1 |
Total | 6,256 | +20 | 100 |
Revenue at actual exchange rates; change at constant exchange rates (by segment and geographic area). International region previously called rest of the world. | 5 |
Other refers to royalty ex US
Strategic portfolio accounting for 35% of revenue in Q1
SEK M | Q1 | Q1 | Change at CER | FY 2023 |
2024 | 2023 | |||
Aspaveli/Empaveli | 240 | 95 | 155% | 594 |
Doptelet (excluding China) | 756 | 475 | 59% | 2,420 |
Gamifant | 438 | 219 | 100% | 1,645 |
Vonjo | 320 | - | n/a | 706 |
Zynlonta | 13 | 3 | >200% | 33 |
Altuviiio royalty | 108 | 1 | 6% | 145 |
Beyfortus royalty | 318 | - | n/a | 1,153 |
Strategic portfolio | 2,193 | 794 | 177% | 6,696 |
Total revenue Q1
Strategic portfolio
35%
Graphics are representative
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Strategic portfolio set to be the main contributor to our revenue
Revenue, MSEK % change CER
Royalties Beyfortus & Altuviiio
Foundational portfolio
Legacy portfolio
Portfolio segments and contribution to growth
6,256 | |
5,239 | 1,767 |
+146% | |
792 | |
+100% | 426 |
2,858 | +18% |
3,167
1,587
-37% | 895 |
Strategic
portfolio: Aspaveli/Empaveli, Doptelet excluding China, Gamifant, Vonjo, Zynlonta, and includes Beyfortus & Altuviiio royalties
- In Q1 revenue from strategic portfolio more than doubled in the quarter to SEK 2,193 M
- Royalties of Beyfortus and Altuviiio will become catalyst for transformation
- Strong fundamentals for future growth:
- Strategic Portfolio
- International diversification
- Near-termPipeline
Q1 2023 | Q1 2024 |
Legacy portfolio: Synagis, manufacturing and Doptelet China. Foundational portfolio: Elocta, Alprolix, Kineret, Orfadin, Tegsedi, Waylivra, & other. | 7 |
Growth continues through pipeline and geographical
expansion
FDA fast track
designation received
Pipeline | SEL-212 |
(CRG) | |
Gamifant | ||
Strategic | (sHLH) | |
portfolio | ||
Beyfortus | Vonjo | |
(MF & tbd) | ||
(RSV royalties) | ||
Doptelet |
Foundational portfolio
North America
Share of realised potential for illustration purposes
Aspaveli
(C3G/IC-MPGN)
Doptelet
Efanesoctocog alfa
Hemophilia A
Aspaveli
(PNH)Zynlonta
(2L DLBCL)
Foundational portfolio (International only)
EU and International
Note: This is a schematic chart for illustration purposes only on the basis of current sales | 8 |
Share of yet to achieve potential for illustration purposes
Haematology: Doptelet continues to show strong momentum (growth of 59% at CER in Q1)
Doptelet
+59% in Q1
- US: Increased uptake driven by higher market share and duration of treatment
- Europe and international ongoing growth driven by launches and increased market share
-
Sales growth 59% at CER for Q1
- Q1 SEK 756 M
Sales in SEK million at actual exchange rates; change at constant exchange rates. | 9 |
Haematology: Aspaveli/Empaveli launch progressing
Phase 3 data (VALIANT study) in Nephrology expected in 2H 2024
Solid Aspaveli/Empaveli
launch trajectory
PNH
- Launched in more than 27 countries across EU, International and Canada
- Q1 sales SEK 240 M
Nephrology
- Phase 2 NOBLE study in patients with recurrent C3G or primary IC-MPGN shows positive results at 12 weeks
- Pegcetacoplan is clearing deposits that cause kidney damage and may block future damage from occurring
- VALIANT phase 3 data expected in 2024, enrolment completed in Q4 2023
Sales in SEK million at actual exchange rates; change at constant exchange rates. | 10 |
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Disclaimer
Swedish Orphan Biovitrum AB published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 13:50:06 UTC.
