Sobi soars as it posts 38% 2nd-qtr revenue growth
Nordic biotech firm Swedish Orphan Biovitrum (STO: SOBI) today announced financial results for the second quarter of 2019, posting revenues of 3,163 million Swedish kronor ($337.2 million), a rise of 38% (+32% at constant exchange rates) compared with the like 2018 period.
This represented organic growth of 25%, said Sobi, whose share leapt 12.6% to 211.80 kronor by late morning trading.
Adjusted earnings before interest, tax and amortization (EBITA) were 1,193 million kronor, an increase of 25%, excluding restructuring costs of 157 million kronor related to the reorganization of R&D.
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