Sobi soars as it beats revenue and earnings estimates for 2nd-qtr 2016
Nordic biotech firm Swedish Orphan Biovitrum (STO: SOBI) has seen its second-quarter 2016 sales reach levels 92% higher than the same period last year, with the latest results sending its share price up by nearly 8% on Friday.
Revenues totalled 1.47 billion Swedish kronor ($173 million), compared to the 764 million kronor in 2nd-qtr 2015, with product sales making up 1.29 billion kroner of this.
The revenue includes a one-off payment of 386 million kroner from US biotech major Biogen (Nasdaq: BIIB) triggered by the first commercial sales of their Alprolix (rFIXFc) extended half-life therapy for hemophilia B.
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