#Sweden #Stockholm #Sobi #Altuvoct #Kineret

Sobi's 2024 Revenue Performance Surpasses Expectations

Overview
Swedish Orphan Biovitrum AB (Sobi®) has reported a remarkable increase in revenue for the fiscal year 2024, exceeding initial projections significantly. This news positions Sobi notably in the biopharmaceutical landscape, especially in treating rare and complex conditions. As announced on January 10, 2025, the company’s total revenue reached approximately SEK 26 billion, reflecting a 19% growth at constant exchange rates (CER).

Key Drivers of Growth
The underlying factors contributing to this impressive revenue performance primarily include:
1. Sales Surge of Haemophilia Products: Notably, the fourth quarter demonstrated strong sales across Sobi's Haemophilia portfolio, which includes critical treatments like Elocta and Alprolix.
2. Altuvoct Adoption: There was a higher than anticipated rate of new patients transitioning to Altuvoct, especially in significant markets such as Germany and Switzerland. This switch is remarkable given the growing acceptance and effectiveness of the product.
3. Elocta and Alprolix Performance: Elocta benefited from an uptick in patient numbers and retained market stability, as fewer patients switched to Altuvoct than expected. Alprolix, too, saw an uptick, with an increased number of new patients and a growing preference for on-demand treatments across Europe.
4. Kineret’s Positive Response: Kineret sales also surpassed expectations due to favorable adjustments in gross-to-net pricing, coupled with a strategic phasing of orders that matched the product's rising demand.

The adjusted EBITA margin remained stable within the mid-30 percent range in line with company forecasts, although it was affected by negative mix effects on gross margin and strategic investments into new product launches and the company’s promising pipeline.

Outlook and Future Plans
In its Q3 2024 report, Sobi had initially projected a mid-teens percentage growth in revenue at CER, with the adjusted EBITA margin expected to stabilize in the mid-30s. However, the latest figures showcase the company's robust market performance and adept management strategies that yield extra advantages.

Sobi plans to reveal its comprehensive fourth quarter and total year report for 2024 on February 5, 2025. This awaited announcement will likely provide further insights into the company’s operational strategies and market outlook.

About Sobi
Sobi, a specialized international biopharmaceutical enterprise, focuses on transforming the lives of patients with rare and serious diseases. With a workforce of approximately 1,800 employees across diverse regions including North America, Europe, Asia, and Australia, the company is committed to ensuring access to innovative treatments in hematology, immunology, and specialty care fields. In 2023 alone, the company reported revenues of SEK 22.1 billion, showcasing its significant impact within the pharmaceutical industry. Sobi's stock is publicly traded on Nasdaq Stockholm under the ticker STOSOBI. For more information about Sobi, explore sobi.com and LinkedIn.

Conclusion
Sobi’s robust growth illustrates the company’s strategic adjustments in addressing market demands and highlights its leading position in the biopharmaceutical industry for rare diseases. As such, industry observers and investors alike will be keenly awaiting the upcoming financial disclosures to assess the full impact of these developments.