Swedish Orphan Biovitrum (SOBI) Carnegie Healthcare Seminar 2025 summary

Strategic overview and financial performance

• Focus on rare disease therapies with a business model spanning sourcing, development, and commercialization.

• 2024 revenues reached SEK 26,027 M, up 19% at constant currencies, with an adjusted EBITDA margin of 36%.

• Strategic growth portfolio saw 87% growth, now 34% of total revenue, driven by new launches and royalty streams.

• Multiple regulatory milestones achieved, including U.S. and European submissions for key pipeline assets and US priority review for Gamifant.

• Foundation products contributed 50% of total revenue with 6% growth in 2024.

Product launches and market expansion

• ALTUVOCT launched successfully in Germany, achieving 40% market share in eight months and expanding the hemophilia franchise to 54%.

• Continued robust launches and uptake in Germany and Switzerland for Altuvoct.

• Accelerated access in Germany and Spain by leveraging alternative regulatory pathways, reducing launch timelines.

• U.K. launch expected mid-2025, with Italy and France following late 2025 or early 2026, pending price negotiations.

• Uptake in other European markets may be slower due to regional reimbursement processes.

Market dynamics and patient segmentation

• In Germany, 45% of ALTUVOCT patients switched from Elocta, 55% from competitors, mainly plasma and short half-life products.

• Plasma product use remains below 5% of the market, mostly among elderly patients with historical preferences.

• ALTUVOCT positioned as a normalization therapy for all hemophilia A patients, not limited to specific segments.

• Economic considerations may influence product choice in some regions, but clinical benefit is emphasized.

• Elocta expected to retain around 20% share of the hemophilia A franchise as ALTUVOCT adoption grows.