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Drugmaker SOBI sees Q3 operating profit at 1.17 billion crowns, raises 2021 outlook By Reuters

by Mike Robinson

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© Reuters.

STOCKHOLM (Reuters) – Swedish drugmaker Orphan Biovitrum (SOBI) narrowed on Monday its full-year outlook to the higher finish of the vary, because it introduced preliminary third-quarter figures.

SOBI final month agreed an $8 billion takeover by U.S. personal fairness agency Introduction Worldwide and Singapore’s sovereign wealth fund.

The corporate estimates working revenue (EBITA) within the July-September quarter at 1.17 billion crowns ($133.5 million), up from 933 million a yr in the past, it mentioned in a press release.

“In view of the continued public provide, the Board of Administrators of SOBI has determined to announce preliminary headline numbers for the third quarter,” the corporate mentioned.

SOBI added that it was now anticipating full-year revenues between 14.5 billion and 15 billion crowns, and an working margin (EBITA) of 33-35%.

Its earlier forecast had been for revenues of 14 billion to fifteen billion crowns with a 30-35% margin.

SOBI, which has suffered from weakened demand for its medicine as healthcare has targeted on COVID-19 in the course of the pandemic, added that it was anticipating quarterly gross sales of three.76 billion crowns.

Its best-selling drug, established haemophilia A remedy Elocta, with 4.6 billion crowns in 2020 revenues, is going through competitors from Roche’s Hemlibra.

SOBI’s full third-quarter report is because of be printed on October 22.

($1 = 8.7617 Swedish crowns)

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