Sobi posts 61% increase in 2016 revenues

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)