Swedish Orphan Biovitrum AB · OMXSTO:SOBI

Swedish Orphan Biovitrum AB — Q3 2013 Earnings Presentation

18 slides from Swedish Orphan Biovitrum AB's earnings presentation, Oct 30, 2013

  1. Slide 1: Q3 Results 2013

    Q3 Results 2013 Geoffrey McDonough │ CEO Alan Raffensperger │ COO Mats-Olof Wallin │ CFO Stockholm | 30 October 2013

  2. Slide 2: Highlights Q3 2013

    Highlights Q3 2013 Business Financial Q3 2013 (Q3 2012) • Signed collaboration agreement for • Total revenues: SEK 517 M (464) XIAPEX® with Auxilium • An increase of 12% • Acquired full rights for Kineret® and • Product revenues: SEK 394 M (306) additional clinical data for Kepivance® • An increase

  3. Slide 3: Our Priorities

    Our Priorities 1. Diversified commercial portfolio focused on improving cash flow and profitability 2. Working to efficiently commercialize our proprietary innovative medicines for rare disease patients globally 3. Business model oriented to building value through partnerships from global early stag

  4. Slide 4: Significant Events After Q3 Close

    Significant Events After Q3 Close • Gained rights to distribute RAVICTI® in Middle East • Submitted filing for Orfadin Liquid to FDA • Biogen Idec regulatory update 4

  5. Slide 5: Consolidated Results Q3

    Consolidated Results Q3 600 Financial Highlights 517 • Total Revenues: SEK 517 M (464), an 500 464 increase of 12% 400 • YTD revenues: SEK 1,566 M (1,451), an increase of 8% 306 300 267 SEK M • Gross Margin: 59% (57) 200 • YTD Gross Margin: 59% (53) 100 30 47 • EBITA before non-recurring items: 25 0

  6. Slide 6: YTD Revenue by Business Line

    YTD Revenue by Business Line Early Stage Development Programmes Haemophilia Neonatology +13% Inflammation Genetics +5% SEK 398 M SEK 339 M Partner Products +20% SEK 373 M ReFacto AF® SEK 456 M +1% 6

  7. Slide 7: ReFacto®

    ReFacto® • Revenue for manufacturing and royalty Sales (SEK M): ReFacto 250 1 000 was SEK 124 M (157) • Normal variation in quarterly deliveries 200 800 • YTD revenue: SEK 456 M (450), an increase of 1% 150 600 • Manufacturing revenue was 100 400 SEK 84 M (119) • Q3 2013 includes validation batches

  8. Slide 8: Results Q3 2013 – Alan Raffensperger

    Results Q3 2013 Alan Raffensperger │ COO Stockholm | 30 October 2013

  9. Slide 9: Kineret

    Kineret • Revenue for Kineret was SEK 142 M (114), Sales (SEK M): Kineret 150 600 an increase of 24% • YTD revenue: SEK 398 M (354), an increase of 13% (at CER 17%) 100 400 • Received positive CHMP opinion for Kineret for treatment of CAPS in EU 50 200 • Acquired full rights for Kineret from Amgen 0

  10. Slide 10: Orfadin

    Orfadin Sales (SEK M): Orfadin • Revenue for Orfadin was SEK 82 M (83), 120 400 a decrease of 1% 350 • YTD revenue: SEK 275 M (265), an increase of 3% 100 (at CER 6%) 300 • Volume continues to grow in all markets 80 250 60 200 • Higher rebates in the US under the 40 150 Affordable Care Act 100 20 50

  11. Slide 11: Partner Products

    Partner Products Sales (SEK M): Partner Products • Revenue for Partner Products was 150 600 SEK 147 M (93), an increase of 59% • YTD revenue: SEK 373 M (310), an increase of 20% (at CER 23%) 100 400 • Revenue growth driven by base portfolio and new partnerships with 50 200 • PharmaSwiss • Exelixis •

  12. Slide 12: Results Q3 2013 – Mats-Olof Wallin

    Results Q3 2013 Mats-Olof Wallin │ CFO Stockholm | 30 October 2013

  13. Slide 13: Income Statement

    Income Statement Amounts in SEK M Q3-13 Q3-12 YTD-13 YTD-12 Total revenues 517 464 1 566 1 451 Gross profit 306 267 926 773 Gross Margin 59% 57% 59% 53% Sales and Administration -150 -130 -429 -409 Research and development -113 -97 -353 -303 Other operating revenues/expenses 3 -10 2 306 Adjusted EBI

  14. Slide 14: Balance Sheet

    Balance Sheet Sep Sep Dec Amounts in SEK M 2013 2012 2012 ASSETS Intangible 4 701 4 742 4 533 Tangible and financial 148 143 130 Total non-current assets 4 849 4 885 4 663 Inventories 693 742 700 Accounts recievable 370 367 343 Other Receivable 144 231 143 Cash and equivalent 449 319 457 Total curre

  15. Slide 15: Cash Flow and Net Debt

    Cash Flow and Net Debt 500 50% 300 400 40% 200 300 30% SEK M SEK M 100 200 20% 0 100 10% -100 0 0% Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Cash flow before financing Change in working capital Net debt Net debt / Equity 15

  16. Slide 16: Outlook 2013 Unchanged

    Outlook 2013 Unchanged Revenues Total revenues are expected to be in the range of MSEK 2,000 to 2,200 • Key Therapeutic Areas – high single-digit growth • Partner Products – growth by 30% • ReFacto manufacturing and royalty – single-digit growth Gross Margin In the range of 57-59% The outlook was fi

  17. Slide 17: Investor Update Planned November 2013

    Investor Update Planned November 2013 We will host capital market days on 5 November in Stockholm and on 7 November in New York City to give some perspectives on our on-going and early stage pipeline programs 17

  18. Slide 18: Summary

    Summary 1. Diversified commercial portfolio focused on improving cash flow and profitability 2. Working to efficiently commercialize our proprietary innovative medicines for rare disease patients globally 3. Business model oriented to building value through partnerships from global early stage biolo

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