WASHINGTON: Nordic biotech firm Swedish Orphan Biovitrum (STO: SOBI) has announced its results for the fourth quarter and full year 2016. Revenues for the full year totalled 5,204 million Swedish kronor ($584.7 million), an increase of 61% compared to 2015. Revenues for the quarter were 1,292 million kronor, an increase of 59%. Product sales for the full year amounted to 4,548 million kronor, an increase of 77%, based on strong performance across the portfolio and the launch of our new hemophilia products, Elocta (efmoroctocog alfa) and Alprolix (coagulation Factor IX [recombinant], Fc fusion protein). Gross margin for the quarter was 67%, compared with 64% in the like 2015 quarter. Earnings before tax and amortization were 210 million kronor versus 90 million kronor, with earnings per share of 0.37 kronor (-0.04)
For the full year, gross margin was 70% (62% in 2015). EBITA was 1,543 million (433). Earnings per share were 3.01 kronor (versus 0.24 kronor) “2016 was a highly significant year for Sobi. We delivered strong financial performance across the portfolio, we established a platform for transformational growth through the launch of two innovative state-of-the-art treatments for haemophilia in Europe and the Middle East, and we took several important steps forward with our pipeline of innovative therapies for rare diseases”, says Sobi’s chief executive and president Geoffrey McDonough. Sobi expects revenues for the full year 2017 to be in the range of 5,800 to 6,000 million kronor. Gross margin is expected to be in the range of 66% to 68% and EBITA for the full year to be in the range of 1,600 to 1,700 million kronor.
