Sobi publishes its Report for the Fourth Quarter and Full

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News Desk 2018

Feb 20, 2014 at 2:15 AM

Sobi publishes its Report for the Fourth Quarter and Full Year 2013

Swedish Orphan Biovitrum AB (publ) (Sobi) today announced its results for the fourth quarter and full year 2013. Revenues for the year totalled SEK 2,177 M (1,923), an increase of 13 per cent. Revenues in the fourth quarter were 29 per cent higher compared to the previous year. All parts of the business contributed to the result with Kineret® and Partner Products delivering strong performance. Business Highlights Q4 2013 * Received approval for Kineret for treatment of CAPS in the EU * Announced decision to take direct responsibility for Orfadin® in the Americas * Announced novel complement C5 inhibitor program to enter phase 1 * Gained rights to distribute Ravicti® in Middle East from Hyperion Therapeutics, Inc. Financial Highlights Q4 2013 (Q4 2012) * Total revenues were SEK 611 M (472); +29% * Product revenues were SEK 448 M (356); +26% * Gross margin was 59 per cent (57) * Ended the quarter with a cash position of SEK 445 M * Earnings per share: SEK -0.05 (-0.54) Financial Highlights FY 2013 (FY 2012) * Total revenues were SEK 2,177 M (1,923); +13% * Product revenues were SEK 1,558 M (1,344); +16% * Gross margin was 59 per cent (54) * EBITA was SEK 211 M (367) * Earnings per share: SEK -0.35 (-0.38) "Sobi had an eventful year in 2013 with strong operating performance and significant pipeline progress. Revenues in the fourth quarter rose by 29 per cent and by 13 per cent in the year, and we expanded our business in both new and existing markets. Our gross margin increased substantially and we strengthened our company financially through positive cash flow and improved operating profit," said Geoffrey McDonough, CEO and President. "We also presented new data from our adult and paediatric haemophilia programmes with Biogen Idec, completed enrolment for our pivotal Kiobrina® phase 3 trial, and announced new initiatives for Kepivance® in Head and Neck Cancer and for SOBI002, our novel biologic inhibitor of complement factor C5." Revenues by Business Line Q4 Q4 Change Change % Full year Full year Change Change % Amounts in SEK 2013 2012 % at 2013 2012 % at M CER(1)) CER(1)) Key Therapeutic Areas -------------------------------------------------------------------------------- Inflammation: Kineret 163.6 130.7 25% 27% 561.7 484.7 16% 19% Genetics: Orfadin 91.2 91.3 0% 0% 365.9 356.7 3% 5% Genetics: Other 20.0 20.9 -4% -6% 84.4 79.6 6% 7% -------------------------------------------------------------------------------- Total 274.8 242.9 13% 14% 1,012.0 921.0 10% 13% Partner Products -------------------------------------------------------------------------------- Current portfolio 173.2 113.1 53% 54% 545.7 411.3 33% 35% Co-promotion revenues 0.0 0.0 n/a n/a 0.0 12.0 -100% -100% -------------------------------------------------------------------------------- Total 173.2 113.1 53% 54% 545.7 423.3 29% 31% ReFacto -------------------------------------------------------------------------------- Manufacturing revenues 146.4 92.7 58% 58% 491.9 436.0 13% 13% Royalty revenues 16.4 23.2 -29% -30% 127.1 129.8 -2% -2% -------------------------------------------------------------------------------- Total 162.8 115.9 40% 40% 619.0 565.8 9% 9% Other revenues - - n/a n/a - 13.1 n/a -100% Total revenues 610.8 471.9 29% 30% 2,176.7 1,923.2 13% 15% (1) )Constant Exchange Rate. Outlook 2014 For 2014, Sobi expects total revenues for the full year to be in the range of SEK 2,300 to 2,500 M and the gross margin to be in the range of 58-60 per cent. Operating costs are expected to increase as the company continues to prepare for the planned launch of the three phase 3 pipeline programmes. --- Sobi's report for the fourth quarter and full year 2013 can be found on http://www.sobi.com/Investors--Media/Reports/ About Sobi Sobi is an international specialty healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primarily focused on Inflammation and Genetic diseases, with three late stage biological development projects within Haemophilia and Neonatology. We also market a portfolio of specialty and rare disease products for partner companies. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2013, Sobi had total revenues of SEK 2.2 billion (€253 M) and about 550 employees. The share (STO: SOBI) is listed on NASDAQ OMX Stockholm. More information is available at www.sobi.com. For more information please contact Media relations Investor relations Oskar Bosson, Head of Jörgen Winroth, Vice President, Head of Investor Communications Relations T: +46 70 410 71 80 T: +1 347-224-0819, +1 212-579-0506, +46 8 697 2135 oskar.bosson@sobi.com jorgen.winroth@sobi.com 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 20 February 2014, at 8:00 CET [HUG#1763240]

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