SOBI up as 1st quarter sales and earnings rocket

26 April 2018

Nordic drugmaker Swedish Orphan Biovitrum (STO: SOBI) saw its shares rise 7.05% to 170.15 Swedish kronor this morning, after it announced strong first-quarter 2018 results.

Total revenues grew 41% to 1.96 billion kronor ($232 million), beating the expectations of 1.86 billion kroner of analysts polled by Reuters. Earnings before interest, taxes and amortization (EBITA) were 771 million kronor, an increase of 90% and gross margin amounted to 72% (compared to 74% in the like 2017 quarter). EBITA also beat analysts’ forecasts of 668 million kroner. Earnings per share came in at 1.91 kronor, a rise of 154%.

In the hemophilia business area, revenues rose 75% to 1.22 billion kronor, including royalties. Hemophilia A drug Elocta (efmoroctocog alfa) sales amounted to 649 million kronor, up 159%, and hemophilia B treatment Alprolix (eftrenonacog alfa) sales leapt 204% to 153 million kronor. The main drivers for growth were France, Germany, Italy and the UK.

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