Geoffrey McDonough, CEO: "The first quarter marks a solid beginning for 2012
with consistent growth across our product business lines. We finalized two
significant transactions with Pfizer and made an important revision of the
agreement regarding the acquisition of Arexis and have no remaining obligations
towards the sellers for any development program including Kiobrina®. We are
focusing on creating a strong base for growing our commercial portfolio and to
improve operational efficiency. The first phase in the establishment of the new
subsidiary in the US was finalized during the quarter. In addition we are very
pleased to have received approval for our Pediatric Investigation Plans for both
Kineret® in new indications and for Orfadin® in a liquid formulation. At
approval the new Orfadin formulation would also extend the orphan designation in
Europe through 2017."
* Total revenues declined by 6% to SEK 506.7 M (537.4), and by 3% adjusted for
currency and discontinued products.
* Product revenues [1]())rose by 10% to SEK 365.6 M (332.1), and by 16%
adjusted for currency effects and discontinued products, mainly driven by
Core Products.
* Gross margin declined to 51% (53%), mainly due to costs for the transfer of
Kineret production and the divestment of the co-promotion rights for ReFacto
AF®/BeneFIX® as of 15 February 2012.
* Proceeds of SEK 307.5 M from the divestment of the co-promotion rights
included in operating profit.
* Operating profit also includes non-recurring items of SEK -34 M related to
the amended purchase agreement with the sellers of Arexis on 30 March 2012.
* The previously published outlook for 2012 remains unchanged.
Telephone Conference
The interim report for the first quarter 2012 will be presented by CEO Geoffrey
McDonough, COO Alan Raffensperger and CFO Lars Sandström at a media and analyst
telephone conference.
Time: Thursday, 26 April 2012 at 2 p.m. (CET)
To participate in the telephone conference, please call:
SE: +46 (0)8 505 597 72
UK: +44 (0)207 750 99 50
US: + 1 866 676 58 70
A recorded version will be available afterwards at www.sobi.com under Investors
& Media/Audio cast. Slides used in the presentation will also be available on
the web site under Investors & Media/Presentations.
For more information, please contact:
Lars Sandström, CFO, Telephone: +46 8 697 26 33
The above information has been made public in accordance with the Swedish
Securities Market Act and/or the Financial Instruments Trading Act. The
information was released for public distribution on 26 April 2012 at 8.30 CET.
--------------------------------------------------------------------------------
[1]) Product revenues include Core Products and Partner Products.
We are a global biopharma company unlocking the potential of breakthrough innovations, transforming everyday life for people living with rare diseases.
Our therapies are concentrated within the areas of Haematology, Immunology and Specialty Care.
We contribute to societies by improving access to treatment of rare diseases.
Every day, we work actively to find better ways to understand and meet patient needs.
Find out more about our business and financial performance.
Here we present our most recent press releases, news articles, and images.