Sobi second quarter 2020 results disappoint

16 July 2020

Nordic biotech Swedish Orphan Biovitrum (STO: SOBI), also known as Sobi, today announced its financial results for the second quarter 2020, which failed to impress investors, sending its share down 7.7% to 196.20 Swedish kronor by mid-morning.

Total revenue came in at 3,070 million kronor ($334.8 million), down 3% (-4% at constant exchange rates (CER).

Adjusted earnings before interest, taxes and amortization (EBITA) were 1,018 million kronor, down 15%, with an EBITA margin of 33%, unchanged from the like 2019 quarter. Earnings per share (EPS) were 0.96 kronor, versus 1.70 kronor, and adjusted EPS was 0.96 kronor versus 2.12 kronor.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK