Sobi publishes Q2 2025 report: Continued strong portfolio and pipeline momentum

Key Takeaways:

• Total revenue increased by 13% (22% at CER) to SEK 6,175 million.
• Haematology revenue grew by 27% at CER due to new product launches and strong sales.
• Strategic portfolio revenue surged by 65% at CER to SEK 3,384 million.
• Adjusted EBITA margin improved to 34%, excluding restructuring costs.
• Restructuring costs of SEK -237 million were incurred due to organizational changes.

Strong Revenue Growth in Q2 2025

Swedish Orphan Biovitrum AB (Sobi®) has reported impressive financial results for the second quarter of 2025. The company’s total revenue increased by 13%, or 22% at constant exchange rates (CER), reaching SEK 6,175 million compared to SEK 5,442 million in the same period last year. This significant growth underscores Sobi’s robust performance across its key business segments.

Haematology Segment Success

The haematology division was a major contributor to the revenue surge, with an increase of 27% at CER to SEK 4,570 million from SEK 3,866 million. This growth was mainly driven by the successful launch of Altuvoct, which generated SEK 627 million in revenue, a substantial rise from SEK 4 million previously. Strong sales of Doptelet, which brought in SEK 1,220 million compared to SEK 928 million, and sales of Aspaveli/Empaveli at SEK 304 million up from SEK 251 million, also fueled the segment’s performance. These gains were somewhat offset by sales of Vonjo, which decreased to SEK 302 million from SEK 347 million.

Immunology Revenue Increase

Sobi’s immunology segment also demonstrated solid growth, with revenue increasing by 11% at CER to SEK 1,288 million from SEK 1,277 million. This uptick was driven by strong sales of Gamifant, which saw revenue climb to SEK 632 million from SEK 522 million, and steady sales of Kineret at SEK 749 million compared to SEK 745 million. The performance reflects the company’s strength in providing essential immunological treatments.

Strategic Portfolio Expansion

Revenue from Sobi’s strategic portfolio grew impressively by 65% at CER, reaching SEK 3,384 million compared to SEK 2,224 million in the previous year. This significant growth indicates the effectiveness of the company’s strategic initiatives and its commitment to expanding its portfolio with innovative treatments that meet unmet medical needs.

Improved Profitability Amid Restructuring

The adjusted Earnings Before Interest, Taxes, and Amortization (EBITA) margin improved to 34%, excluding items affecting comparability (IAC) of SEK -237 million. These IAC primarily relate to restructuring costs following organizational changes, mainly in the US operations and research and development functions. Despite these costs, EBITA increased to SEK 1,863 million from SEK 1,486 million, corresponding to a margin of 30%.

Restructuring Costs and Organizational Changes

The company incurred restructuring costs of SEK -237 million due to organizational changes aimed at optimizing operations, particularly in the US market and R&D departments. These changes are expected to streamline processes and enhance future profitability, despite the short-term financial impact.

Conclusion

Sobi’s strong financial performance in the second quarter of 2025 highlights the company’s continued momentum and resilience. The substantial growth in revenue across key segments, improved profitability margins, and strategic portfolio expansion position the company well for future success. While restructuring costs impacted the bottom line, these organizational changes are geared toward fostering long-term growth and operational efficiency.