Report by the CEO

Annual Report 2015

Sobi – a community dedicated to transforming lives

Sobi’s vision is real. We are not just participating, but contributing to creating a world in which rare disease patients can look forward to a full and healthy life within the boundaries of their disease.

We are 700 people working together across 50 countries because each of us in our own way knows what it looks and feels like to make a major transformational impact on the life of a family dealing with a severe rare disease. When a newborn or young child is diagnosed with a rare disease, we are working to be there with a specific, highly effective, and sustainably delivered therapy that permanently changes their outlook for the better. Our history and current portfolio allow us to refer to actual experiences that substantiate this purpose. Orfadin has made it possible for children with hereditary tyrosinaemia to live into adulthood and to have children of their own. Kineret has allowed children with NOMID, a severe inflammatory disorder, to achieve days in which they forget why they are taking the medicine. Finally, the emergency treatments in our partner portfolio save lives every day for patients with severe intoxications.

Pioneer in rare diseases

This shared purpose and experience informs our commitment at Sobi to be pioneers in rare diseases. Pioneering starts with a vision, begins its journey with partners, forges its path with persistence, and solves problems through collaboration and innovation. Above all, the lasting impact of pioneers comes when their achievements are sustainable and visible through time. In the context of rare diseases we believe the key ingredient to pioneering is the ability to listen to and to understand the needs of patients, to choose the precise application of technologies, to co-create an efficient path to approval with regulators and physicians, and the willingness to jointly author sustainable commercial solutions with budget holders that can allow therapies to be in place for a lifetime. Crucially, we believe that the culture of pioneering in the service of patients with rare diseases requires a small, agile, and human scale organisation that can stay responsive to the changing landscape of patient needs, science and society.

Driving innovation forward

We are a learning organisation where making several of little bets on great ideas can lead to value creation that changes the entire company’s future. This means attracting and developing talented people who share our purpose, take on responsibility, and have the energy and enthusiasm to innovate in their work every day.

This is the purpose, the culture, and the learning mind-set that have allowed for the significant progress that Sobi has made over the past several years. Looking back, Sobi was in an entirely different place five years ago. We began our transition five years ago with an operational focus to restore our business segments to growth, to manage our capital allocation wisely, and to bring the company to profitability and, eventually, to a net positive cash position – over this period Sobi’s market capitalisation has increased more than sevenfold. By focusing on meeting each of these objectives and building shareholder value I believe that we have set a solid foundation for the future.

Transforming our future

Our operational priority was in part intended to allow us to self-sufficiently invest in the preparation to launch two new, first in class haemophilia therapies developed in collaboration with Biogen. Over the past year we have assembled a world-class team of expert commercial, medical and patient access professionals in this field who share our purpose, collaborative mind-set, and energy. As we launch first Elocta, and then potentially Alprolix, we will bring our pioneering rare disease approach to this area. We can clearly see the transformational potential these therapies can have for people living with haemophilia, and we believe that we have a sustainable value approach that can allow them to become a new standard of care in the years to come.

With the platform of these two objectives in place we now turn our attention to building our future over the longer term. We will continue to follow the needs of patients by developing new indications and formulations for our current therapies. We are also working on several innovative early-stage biologics programmes, which we believe can make a major positive impact for patients. While we advance these internal programmes we are also turning our attention to a broader and more dynamic set of external partnerships, collaborations and investments to bring the cutting edge of precision medicine into the therapeutic areas where we have our experience and commitment.

Thank you for the interest and support you have for our work at Sobi. We are energised by our progress so far, and even more so by the process of building our future together and the next chapter of our story.

 

Geoffrey McDonough
President and CEO

 

To Annual Report 2015

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