Sobi sees 3rd-qtr sales up 27% and EPS leaps 70%

Rare diseases specialist Swedish Orphan Biovitrum (STO: SOBI), also known as Sobi, today posted financial results for the third quarter of 2021, with total revenue of 3,761 million Swedish kronor ($437 million), an increase of 27% compared with the same period a year ago and 29% at constant exchange rates (CER).

Gross profit for the quarter was 2,802 million kronor, versus 2,339 million kronor, representing a gross margin of 75%. Profit totalled 473 million kronor, up 70% for the quarter, with earnings per share also 70% high at 1.60 kronor.

Chief executive and president Guido Oelkers commented: “We saw continued growth and pipeline progress in the third quarter of 2021, and it is satisfying to see that results are confirming our strategic direction. Overall, our two main business areas are in solid shape and they progressed as expected. Overall, our two main business areas are in solid shape and they progressed as expected. In Hematology, growth in Doptelet sales more than compensated for lower sales of Elocta and Alprolix, where Elocta in particular was impacted by a negative price effect. In Immunology, strong sales growth was driven by Synagis due to an early RSV season as well as strong Gamifant sales, while Kineret continued to show so Savelid double-digit growth. In early September, Agnafit Bidco AB announced a public cash offer to Sobi’s shareholders, of which the outcome is not certain at the time of publishing this report.”